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 ?
We assessed the effects of night provisioner status on reproductive performance for all nests combined and for Fort Simpson nests only.
switchMASTER also allows provisioners to schedule service cutovers at
Internet provisioners can select from many options to suit the demands of different points of presence (POPs).
A customizable Application Manager that enables applications provisioners to configure applications and services with varying user-interface-delivery needs: Web-based user interfaces, Java-based user interfaces, Windows-based user interfaces, and alternative delivery mechanisms (e.
As a result, sales, customer service and provisioners can now enter orders, opportunities, and key end-user set-up information efficiently and cost-effectively.
We were looking for an end-to-end solution which would allow sales, customer service and provisioners the ability to enter orders, opportunities, and key end user set-up information in an efficient and cost-effective manner.
Using these simplified templates, service provisioners can immediately deliver optical services, at any service level, in just a few clicks of a mouse.
This enables telcos to integrate disparate systems and departments (order entry, service provisioners, billing, central office, field operations and customer care) into the service delivery process.