26 June 2012
No you can not make provision for receipts as per Accounting Standard (AS) 1 (issued 1979) Disclosure of Accounting Policies Prudence In view of the uncertainty attached to future events, profits are not anticipated but recognised only when realised though not necessarily in cash. Provision is made for all known liabilities and losses even though the amount cannot be determined with certainty and represents only a best estimate in the light of available information. so u cant make provision for thr receipt provision only made for expenses
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