Hi, I am commerce stream student preparing for CA. In accountancy, I am struggling to understand Depreciation and provisions chapter. Can someone give me some tips on how to solve depreciation and provisions questions?
Have you watched Brain Bucket Academy videos on youtube? They helped me a lot for depreciation and provisions. Also practice all the questions from the NCERT text book. That really helps to understand the concepts.
I know it gets tricky man! For provisions, remember profit should only be recognized in the year it is earned. So when conditions arise, make provisions to subtract from your profits. The main provisions ate doubtful debts, warranty, tax, etc. Hope this helps.
Forget YouTube, read the actual standards and practical examples in the ICAI study material. That’s how you’ll truly understand and be able to solve any question on it.
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