The main difference between Provision and Reserve is that Provision is a specific amount that you place in sideways in your accounts to protect forthcoming accountability, whereas Reserve is a profit that is assuming for a particular purpose.
Provision
The act of providing or supplying something
The provision of health care.
The provision of rations.
Reserve
To keep back, as for future use or for a special purpose
The hospital reserves certain drugs for the most serious cases.
Provision
The act of making preparations for a possible or future event or situation
The provision for retirement requires planning.
Reserve
To set or cause to be set apart for a particular person or use
Reserved a seat on the next flight out.
Provision
Something provided
A fire escape is an important provision in a building.
Reserve
Something kept back or saved for future use or a special purpose
A runner with a reserve of energy for the final lap.
Provision
Provisions Necessary supplies, such as food and clothing, as for a journey.
Reserve
An amount of capital that is not invested or otherwise used in order to meet probable demands, such as withdrawals by bank depositors or claims on insurance policies.
Provision
A preparatory action or measure
We must make provisions for riding out the storm.
Reserve
Lack of enthusiasm, as from a misgiving or doubt
Supported the idea without reserve.
Provision
A particular requirement in a law, rule, agreement, or document
The constitutional provision concerned with due process.
Reserve
Self-restraint in expression or bearing; reticence or coolness
Maintained a dignified reserve throughout the ceremony.
Provision
To supply with provisions.
Reserve
A reservation of public land
A forest reserve.
Provision
To take preparatory action or measures
A bank must provision against losses from bad loans.
Reserve
An amount of a mineral, fossil fuel, or other resource known to exist in a particular location and to be exploitable
The discovery of large oil reserves.
Provision
An item of goods or supplies, especially food, obtained for future use.
Reserve
A fighting force kept uncommitted until strategic need arises.
Provision
The act of providing, or making previous preparation.
Reserve
The part of a country's armed forces not on active duty but subject to call in an emergency.
Provision
Money set aside for a future event.
Reserve
A member of either of these forces
The army's active reserves.
Provision
(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.
Reserve
A group of players that play only as substitutes for starters in games or are kept from playing for some reason.
Provision
(law) 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.
Reserve
One of these players.
Provision
(Roman Catholicism) Regular induction into a benefice, comprehending nomination, collation, and installation.
Reserve
Held in or forming a reserve
A reserve supply of food.
Provision
A nomination by the pope to a benefice before it became vacant, depriving the patron of his right of presentation.
Reserve
(behaviour) Restriction.
Provision
(transitive) To supply with provisions.
To provision an army
Reserve
The act of reserving or keeping back; reservation; exception.
The book is on reserve.
Provision
To supply (a user) with an account, resources, etc. so that they can use a system.
Reserve
Restraint of freedom in words or actions; backwardness; caution in personal behavior.
Provision
The act of providing, or making previous preparation.
Reserve
That which is reserved or kept back, as for future use.
Provision
That which is provided or prepared; that which is brought together or arranged in advance; measures taken beforehand; preparation.
Making provision for the relief of strangers.
Reserve
A natural resource known to exist but not currently exploited.
New oil reserves are continuously being discovered, but not as fast as the existing ones are running out.
Provision
Especially, a stock of food; any kind of eatables collected or stored; - often in the plural.
And of provisions laid in large,For man and beast.
Reserve
A tract of land reserved, or set apart, for a particular purpose
The Connecticut Reserve in Ohio was originally set apart for the school fund of Connecticut.
The Clergy Reserves in Canada are for the support of the clergy.
Provision
That which is stipulated in advance; a condition; a previous agreement; a proviso; as, the provisions of a contract; the statute has many provisions.
Reserve
(Canada) A tract of land set apart for the use of an Aboriginal group; Indian reserve (compare US reservation.)
Provision
A canonical term for regular induction into a benefice, comprehending nomination, collation, and installation.
Reserve
(military) A body of troops kept in the rear of an army drawn up for battle, reserved to support the other lines as occasion may require; a force or body of troops kept for an exigency.
Provision
A nomination by the pope to a benefice before it became vacant, depriving the patron of his right of presentation.
Reserve
Funds kept on hand to meet planned or unplanned financial requirements.
Provision
To supply with food; to victual; as, to provision a garrison.
They were provisioned for a journey.
Reserve
A reserve price in an auction.
Provision
A stipulated condition;
He accepted subject to one provision
Reserve
Wine held back and aged before being sold.
Provision
The activity of supplying or providing something
Reserve
(ceramics) Absence of color or decoration; the state of being left plain.
Provision
The cognitive process of thinking about what you will do in the event of something happening;
His planning for retirement was hindered by several uncertainties
Reserve
(social) Something initially kept back for later use in a recreation.
Provision
A store or supply of something (especially of food or clothing or arms)
Reserve
(sports) A member of a team who does not participate from the start of the game, but can be used to replace tired or injured team-mates.
Provision
Supply with provisions
Reserve
(card games) A group or pile of cards dealt out at the beginning of a patience or solitaire game to be used during play.
Reserve
In exhibitions, a distinction indicating that the recipient will get a prize in the event of another person being disqualified.
Reserve
(calico printing) A resist.
Reserve
A preparation used on an object being electroplated to fix the limits of the deposit.
Reserve
To keep back; to retain.
We reserve the right to make modifications.
Reserve
To keep in store for future or special use.
This cake is reserved for the guests!
Reserve
To book in advance; to make a reservation.
I reserved a table for us at the best restaurant in town.
Reserve
(obsolete) To make an exception of; to except.
Reserve
To keep back; to retain; not to deliver, make over, or disclose.
Reserve
Hence, to keep in store for future or special use; to withhold from present use for another purpose or time; to keep; to retain; to make a reservation{7}.
Hast thou seen the treasures of the hail, which I have reserved against the time of trouble?
Reserve your kind looks and language for private hours.
Reserve
To make an exception of; to except.
Reserve
The act of reserving, or keeping back; reservation.
However any one may concur in the general scheme, it is still with certain reserves and deviations.
Reserve
That which is reserved, or kept back, as for future use.
The virgins, besides the oil in their lamps, carried likewise a reserve in some other vessel for a continual supply.
Reserve
That which is excepted; exception.
Each has some darling lust, which pleads for a reserve.
Reserve
Restraint of freedom in words or actions; backwardness; caution in personal behavior.
My soul, surprised, and from her sex disjoined,Left all reserve, and all the sex, behind.
The clergyman's shy and sensitive reserve had balked this scheme.
Reserve
A tract of land reserved, or set apart, for a particular purpose; as, the Connecticut Reserve in Ohio, originally set apart for the school fund of Connecticut; the Clergy Reserves in Canada, for the support of the clergy.
Reserve
A body of troops in the rear of an army drawn up for battle, reserved to support the other lines as occasion may require; a force or body of troops kept for an exigency.
Reserve
Funds kept on hand to meet liabilities.
Reserve
That part of the assets of a bank or other financial institution specially kept in cash in a more or less liquid form as a reasonable provision for meeting all demands which may be made upon it;
Reserve
In exhibitions, a distinction which indicates that the recipient will get a prize if another should be disqualified.
Reserve
A preparation used on an object being electroplated to fix the limits of the deposit.
Reserve
Formality and propriety of manner
Reserve
Something kept back or saved for future use or a special purpose
Reserve
An athlete who plays only when another member of the team drops out
Reserve
(medicine) potential capacity to respond in order to maintain vital functions
Reserve
A district that is reserved for particular purpose
Reserve
Armed forces that are not on active duty but can be called in an emergency
Reserve
The trait of being uncommunicative; not volunteering anything more than necessary
Reserve
Hold back or set aside, especially for future use or contingency;
They held back their applause in anticipation
Reserve
Give or assign a share of money or time to a particular person or cause;
I will earmark this money for your research
Reserve
Obtain or arrange (for oneself) in advance;
We managed to reserve a table at Maxim's
Reserve
Arrange for and reserve (something for someone else) in advance;
Reserve me a seat on a flight
The agent booked tickets to the show for the whole family
Please hold a table at Maxim's
Reserve
Not engaged in military action
Reserve
Kept in reserve especially for emergency use;
A reserve supply of food
A spare tire
Spare parts
The provision means to preserve some money for an identified responsibilities which are probable to ascend after a certain period, whereas the reserve is to recollect some cash from the proceeds for any specific future use. The figure of the provision is not overwhelming to compensate dividends, while the volume of the reserves is utilizing for providing a consistent dividend association. In provision, the remaining profit is figuring only next to giving outcome to all provisions, whereas reserves are making only after assessing income.
The provision means to protect industrial actions from predictable obligations, whereas reserve means to deliver more resources for the procedures of a business. The provision does not entail the existence of profit to assign, whereas, in reserve, there is a profit for it to allow. The amount of a provision is not defining precisely at the date of the Balance Sheet; nevertheless, the liability is identifying. On the other hand, the amount of a reserve depends upon the strategy and preference of the administration.
Provision is custody besides earnings, and it means that if there is a loss in business, it is a necessity and has to complete. The reserve is an assumption of profits, and it says If there is any turnover, the reserve will create otherwise there is no reserve need to create. Provision is showing on both sides of the Balance Sheet, whereas reserves show on the liability side of the Balance Sheet. In provision, the amount is not utilizing for different persistence except for they are creating, while in the reserve amount is using for any resolution because they signify undistributed profits.
Provision is an essential part of a business, as it reports certain expenditures in industry and expenses to prepare for them. A provision mentions to the amount that is sideways from a company’s profits to insurance the fees standing up from a recognized expected liability or decrease in the cost of an asset. Provision are also designating as preparing you to ensure when a little is going to happen in the future.
Provision is the gratitude of a predictable obligation, which consequence is in the running down of cash from the business. The total of the liability merely appreciates by the objective to deliver for it. If a provision creates in supplementary of the necessary amount, then after paying off the responsibility, it needs to write back to the profit and loss account. The formation of the provision is obligatory, and it is forming by profit and loss account.
The essential persistence of a provision is to make an existing year’s balance more correct, Conception of provision does not depend on profit. They have to create a level if there are insufficient profits or substantial fatalities. Provision may appear on both sides of the balance sheet by the method of assumption from the apprehensive asset or distinctly on the liabilities side. Provision reduces net profit. Provision can never invest outside the business. The formation of the provision is essential as per regulation. Types of provision are provision for bad debts, provision for depreciation, and provision for tax.
A reserve is such profits that is taking for a particular purpose. Reserves are also recognizing as recalled earnings, and it is a percentage of a business’s profits set aside to support the business’s financial situation. Reserves are on occasion association to obtain fixed assets, pay for repairs and maintenance, additional emolument benefit, pay an expectable legal clearance, pay off dues, and much more.
Many authorities of accounting and business have a strong opinion and always contemplate protecting some money for an indefinite future. That is why corporations generate reserves for protecting money to encounter the upcoming sufferers, and it is a preservation approach that helps in keeping some safety for the business,
Reserves are a statement of income. Reserves depend upon profit. In the nonappearance of satisfactory profits, reserves cannot create. Reserves are creating to support the runny assets of business creativity. Maintenance of reserves is not essential because they are making as per fiscal caution. Reserves are always presenting on the liabilities sideways of a balance sheet.
Reserves can invest separately in business, and it knows as a reserve fund. Other than capital reserves, reserves are circulating as profit. Reserves reduce isolatable benefits. Types of the reserve are capital reserve and revenue reserve.
