provision

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Provision

Used in accounting as a charge for an estimated expense or loss.

provision

the sums charged in DOUBLE ENTRY ACCOUNTS against a firm's PROFITS in anticipation of costs which are likely to arise in the future. The most common general provision made by firms is the provision for DOUBTFUL DEBTS which is established in anticipation of some customers not paying what they owe. In addition, a firm may make a specific provision against, say, a damages claim which is presently not yet settled. Provisions are aimed at trying to ensure that profits are not overstated by making sure that all a firm's costs are charged, even those whose precise amount is not yet certain. See REVALUATION PROVISION, DEFERRED TAX.
References in periodicals archive ?
com) is an innovative cloud provisioning firm committed to delivering next-generation infrastructure services to enterprise class customers.
com) is an innovative cloud provisioning firm committed to delivering next generation infrastructure services to enterprise class customers.
As part of the certification, the xStream platform was validated as a cloud provisioning platform capable of delivering the security, performance and elasticity requirements of mission critical applications at the high standard demanded by enterprise clients.
This is a great combination for blending the efficiency of IBM's cloud provisioning infrastructure with the best-of-breed VDI capabilities of Virtual Bridges," said James Kaylor, senior director of Information Systems & Technology at the University of Pennsylvania, a joint customer of IBM and Virtual Bridges.
Our founding objective at Virtustream was to bring to market the first consumption-based Cloud provisioning platform capable of supporting heavyweight back-office enterprise applications that until now had not benefited from the pooled resource efficiencies of the Cloud due to their i/o and memory intensive nature.
com) is an infrastructure services firm committed to helping clients actualize the enterprise cloud by providing strategy, integration and managed services leveraging virtualization technologies, and our secure cloud provisioning platform.
Features offered by such vendors include middleware capabilities, cloud provisioning and orchestration, with the option of multiple tenancy models.
Our award-winning solutions transcend traditional IT service management boundaries giving business and IT professionals a smarter way to automate business processes ranging from IT financial management to identity management, employee onboarding and cloud provisioning.
SinglePoint Cloud Provisioning Gateway - uses the Service Provisioning Markup Language (SPML) to manage user identity in Cloud applications.