provision

(redirected from provisionally)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

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 ?
Sagesse are provisionally in third place at 7-2, tied with Amchit as both teams prepare to meet Friday, when the winner will regain second place.
The seven provisionally shortlisted for the accolade include: The Komodo Dragon, Table Mountain (South Africa), Halong Bay (Vietnam), the Amazon Rainforest (South America), Iguaza Falls (Brazil/Argentina), Jeju Island (South Korea) and the Puerto Princesa Subterranean River (Philippines).
The player and his union (who exited the tournament after the pool phase) have been informed of the finding and the player is provisionally suspended until the outcome of a hearing, which is pending.
And the unique Goodwood Revival is provisionally scheduled for the weekend of September 14-16 next year.
The president will soon issue an order to remove the requisition (of MTN's assets), and at my level, I'll make a decision to recall the administrator who was appointed provisionally," said Diaby.
AMOS ADAMU, the Nigerian official provisionally suspended by FIFA over bribery allegations, yesterday denied any wrongdoing.
A Fifa statement also said that four other officials had been investigated and provisionally suspended for violations of Fifa statutes related to the bidding process for the two World Cups.
Auto Business News-15 April 2009-Moody's provisionally rates Usaa Auto Owner Trust notes(C)2009 ENPublishing - http://www.
All of Japan's 47 prefectural governors support a plan by the government and the ruling coalition to maintain provisionally raised gasoline and other road-related tax rates beyond the planned expiration of the measures on March 31, according to a Kyodo News survey released Wednesday.
Prince Charles has provisionally agreed to let her have a flat at Clarence House or Kensington Palace when she finishes university in South Africa next year.
14 that the body, which had provisionally been called UB 313 and nicknamed Xena, would now be officially called Eris, after the Greek goddess of discord and strife.
The court provisionally enforced the fine regardless of whether the Irish carrier lodges an appeal.