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 ?
(2005), long trips build body reserves on parents, passed on to the chicks by lack of optimal self-provisioning during the early stages of a short trip cycle.
"Our innovative and tailored @PiCloud(TM) offerings coupled with the agility and stability of SUSE OpenStack Cloud enable a rapid self-provisioning of Cloud environments for varied workloads.
* Self-provisioning offers scalability, reliability, and security benefits that come with controlling a network.
Kinder, an assistant professor of urban planning at the University of Michigan, documents dozens of examples of "self-provisioning"--that is, of Detroiters doing for themselves in a city from which much of the population has fled.
The company offers a range of self-provisioning applications which are used to manage and recover stolen assets, provide access to roadside assistance programmes, and improve productivity of commercial fleets.
The telecommunications giant has deployed the EMC Federation Enterprise Hybrid Cloud Solution together with EMC ViPR Controller software-defined storage and VMware vCloud Automation Center Suite to drive automation and self-provisioning capabilities to enhance service delivery across multiple lines of business.
In addition to allowing customers self-provisioning, the Tier III Data Center built by Dialing Innovations meets and exceeds all requirements set forth by both the Telecommunications Industry Association and Uptime Institute.
As the National Institute of Standards and Technology (NIST) recently pointed out, "The characteristics that make this new technology so attractive also create challenges for forensic investigators who must track down evidence in the ever-changing, elastic, on-demand, self-provisioning cloud computing environments.
Similarly, literature in the new economics argues that a movement away from wage labor and towards various forms of self-provisioning and extra-market exchange heralds improvements to economic justice and community quality of life (Schor, 2010; White and Williams, 2012).
In principle, AEI is relevant for all forms of agriculture, whether it is pursued as a business, as a means to support family nutrition, or for both income and self-provisioning. Conventional approaches to research and extension are, however, poorly designed to support AEI across diverse socio-ecological contexts, particularly given the weakness of research and extension systems in food-insecure parts of the world.
"Self-provisioning by users, infinite capacity on demand, shared resources and pooled capacity and ability to pay for use with no commitment may not be present.
With local control over data and operations, customers can dynamically pool, allocate, secure, and manage resources for agile infrastructure-as-a-service (IS) or platform-as-a-service (PS.) Likewise, business units can deploy line-of-business applications with speed and consistency using self-provisioning and decommissioning automated data center services in a virtualized environment.