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 ?
Night provisioners are compensating for a lower rate of energy delivery during the day compared to non-night provisioners rather than delivering additional 'bonus' energy.
The National Provisioner is the leading magazine covering the $149 Billion meat and poultry processing marketplace with the most circulation and most advertising pages in the market.
Meat and poultry processors face many tough human capital issues today, and business leaders expect human resources departments to provide strategic direction and solutions to address these concerns," says Barbara Young, editor-in-chief of The National Provisioner.
The article's author, Alan Zeichick, also was impressed with the flexibility of Softek Storage Provisioner and that "the solutions' extreme configurability is noteworthy.
Today at the 2006 Burton Group Catalyst Conference, Fischer International, thought leaders in Identity Management, is unveiling the patent-pending Fischer Global Provisioner, enabling organizations to easily and automatically extend provisioning processes across multiple domains and Business Partners.
Softek Automated Storage products deployed in FusionStorm solutions include Softek TDMF for data migration and replication in mainframe and open systems environments, Softek Storage Manager for storage resource management, Softek Storage Provisioner for automated provisioning, and Softek SANView for storage area network (SAN) management.
1 is tightly integrated with the newly announced Softek Storage Provisioner to provide automated provisioning of network-attached disks to applications.
Hewlett-Packard has designed, built, and implemented a system called HP Provisioner for managing its product content.
a California-based leader in providing incubation and management services to technology associations and Informa Marketing Solutions (IMS), a division of T&F Informa, plc, the London-based provisioner of specialist information, today announced that they have agreed to partner and jointly develop business and technology conferences, developer events, books, journals and other publications, that will foster growth in the collaborative communities marketplace.