📊 What are Reserves in Accounting? 💰 Explained Simply!
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📊 What are Reserves in Accounting? 💰 Explained Simply!
What are reserves in accounting? 💡 Reserves are profits set aside to strengthen a company's financial position. Unlike provisions, they are not for specific liabilities but serve as a financial safety net for future growth or unexpected needs. Types of reserves include: General Reserves – Ensures overall financial stability. Specific ...
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