UK Accounting Glossary
A liability of uncertain timing or amount.
Similar: supplying, supply, providing, purveying, delivery, furnishing, equipping, giving, donation, allocation, distribution, presentation
2. An amount or thing supplied or provided.
“changing levels of transport provision”
Similar: facilities, services, amenities, resource(s), equipment, arrangements, solutions, means, offering, funds, benefits, assistance, allowance(s), concession(s), opportunities
1. supply with food, drink, or equipment, especially for a journey.
“civilian contractors were responsible for provisioning these armies”
2. set aside an amount in an organization’s accounts for a known liability.
“financial institutions have to provision against loan losses”
Provision is a clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso. the providing or supplying of something, especially of food or other necessities. arrangement or preparation beforehand, as for the doing of something, the meeting of needs, the supplying of means, etc.
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This glossary post was last updated: 23rd December 2018.