Accrual vs. Provision
Difference Between Accrual and Provision
Accrualnoun
An increase; something that accumulates, especially an amount of money that periodically accumulates for a specific purpose
Provisionnoun
An item of goods or supplies, especially food, obtained for future use.
Accrualnoun
(accounting) from the creditor's viewpoint, a charge incurred in one accounting period that has not been, but is to be, paid by the end of it.
Provisionnoun
The act of providing, or making previous preparation.
Accrualnoun
the act of accumulating
Provisionnoun
Money set aside for a future event.
Provisionnoun
(accounting) A liability or contra account to recognise likely future adverse events associated with current transactions.
We increased our provision for bad debts on credit sales going into the recession.Provisionnoun
(legal) A clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso.
An arrest shall be made in accordance with the provisions of this Act.Provisionnoun
(Roman Catholic) Regular induction into a benefice, comprehending nomination, collation, and installation.
Provisionnoun
A nomination by the pope to a benefice before it became vacant, depriving the patron of his right of presentation.
Provisionverb
(transitive) To supply with provisions.
to provision an armyProvisionverb
To supply (a user) with an account, resources, etc. so that they can use a system.
Provisionnoun
a stipulated condition;
he accepted subject to one provisionProvisionnoun
the activity of supplying or providing something
Provisionnoun
the cognitive process of thinking about what you will do in the event of something happening;
his planning for retirement was hindered by several uncertaintiesProvisionnoun
a store or supply of something (especially of food or clothing or arms)
Provisionverb
supply with provisions
