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.
There are, however, notable considerations to be made when viewing their roles as provisioners through the gender filter of their roles as men.
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.
My work', a provisioner added, 'has become less artisan and more technical.
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.
The tinned food was traced to an unscrupulous provisioner, who canned mainly food scraps and did not observe proper procedures during the canning--and had provided most of the food for the expedition.
Supplier, furnisher, procurer, purveyor, provisioner, caterer" (SF).
A Women's Royal Army Corps driver and provisioner, she was entitled to wear the famous winged dagger insignia while stationed in Hereford.