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 ?
Instead of relying on manual interactions with other departments, a provisioner could propose a possible route for the new service without tying up the NOC, CO or OSP resources.
Indeed, unlike the civilian situation, the Government is often employer, landlord, provisioner, and lawgiver rolled into one." (70) This comprehensive authority requires a system of discipline--embodied in the Uniform Code of Military Justice--that targets a much greater range of misconduct than civilian criminal codes but is also more flexible in the means provided to maintain discipline and correct or punish misconduct.
See also the excellent internet edition, A London provisioner's chronicle, 1550-1563, by Henry Machyn: manuscript, transcription, and modernization, (eds) Richard W.
In Peter's particular situation, the role of provisioner had been markedly curtailed by Marie's cognitive illness.
Company officials say National Provisioner ranks Coleman Natural Foods among the top 30 meat processors in the U.S.
(See feature on page 10 of the July 2003 issue of The NATIONAL PROVISIONER for more details.)
This would seem an ideal moment to reconsider the career of an off-center playwright frequently viewed as an eccentric, vulgar provisioner for scenery-chewing actors, but who is in fact a deeply ambitious artist working through primal themes, in a language that people actually use and a voice as recognizable as David Mamet's (although less easily caricatured).
Widmaier, senior technical writer; Tito Figueroa, senior logistician; Douglas Silverman, technical writer; Carol Kyle, technical writer; Michael Van Blarcum, provisioner; and Stanley Quamina, provisioner.
The early support program for our automated storage provisioning solution, Softek Storage Provisioner, is also progressing according to plan and we expect to announce general availability status for this product in coming weeks."
Developers go across the board, from StoneFly's Storage Concentrators in the IP space, to Fujitsu Softek's newly released Storage Provisioner for heterogeneous environments, to EMC's powerful PowerPath 4.
Storage management software provider Softek has revealed version 2.1 of its Softek Storage Provisioner for allocating disk storage space to applications.
And the National Institute of Child Health and Human Development (NICHD), designated as our guide and provisioner on the journey, was irresponsible both in advising Congress that the task could be done in that way and in selecting the wrong combination of people to do it.