Provision: Difference between revisions
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imported>Doug Williamson (Add 3rd definition.) |
imported>Doug Williamson (Add links.) |
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* [[Anti-avoidance provision]] | * [[Anti-avoidance provision]] | ||
* [[Bad debt provision]] | * [[Bad debt provision]] | ||
* [[Big bath]] | |||
* [[Book reserve]] | * [[Book reserve]] | ||
* [[Call provision]] | * [[Call provision]] | ||
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* [[Make whole provision]] | * [[Make whole provision]] | ||
* [[Net book value]] | * [[Net book value]] | ||
* [[Prudence]] | |||
* [[Term]] | * [[Term]] | ||
* [[Zero rate provision]] | * [[Zero rate provision]] | ||
Revision as of 11:21, 17 February 2019
1. Accounting - noun.
A form of liability where there is uncertainty as to the amount and timing of final settlement.
Relevant accounting standards include IAS 37 and Section 21 of FRS 102.
2. Accounting - noun.
A reduction in the carrying amount, or net book value, of an asset to recognise an estimated reduction in value.
Examples include bad debt provisions and provisions for depreciation.
3. Accounting - verb.
To create an accounting provision, or increase the amount of a provision.
4. Law.
A significant individual part of a law, for example a tax anti-avoidance provision.
5. Contract law.
A significant individual part of a contract, for example a clause or a term in a contract.
