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 ?
The solution provides: automatic provisioning of virtual and physical fabric resources in dynamic data centres and cloud environments; enforcement of security and isolation on the fabric across virtual and physical elements; an engine that translates business requirements to data centre fabric policies; and correlation of monitored data to application/service level.
<p>Nasuni's NAS file server runs in a VMware virtual machine and integrates with either Amazon S3 or Iron Mountain remote storage services, while providing features such as encryption, caching, deduplication, automatic provisioning, and synchronous snapshots.
Virtualization actually ranges from a visual screen where administrators can make changes to their storage assignments, up to automatic provisioning where the software does it for you.
The Colibria Companion IM Gateway reportedly supports such functions as: adherence to the MSN IM Gateway test cases; send/receive individual IM; view contacts; support for multiple groups; set presence status; emoticons; automatic provisioning on gateway.

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