Provision: Difference between revisions
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imported>Doug Williamson (Add tax anti-avoidance provision example.) |
imported>Doug Williamson m (Add links.) |
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* [[Book reserve]] | * [[Book reserve]] | ||
* [[Call provision]] | * [[Call provision]] | ||
* [[Carrying amount]] | |||
* [[Contract]] | |||
* [[Depreciation]] | * [[Depreciation]] | ||
* [[FRS 102]] | * [[FRS 102]] | ||
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* [[Liabilities]] | * [[Liabilities]] | ||
* [[Make whole provision]] | * [[Make whole provision]] | ||
* [[Net book value]] | |||
* [[Term]] | * [[Term]] | ||
* [[Zero rate provision]] | * [[Zero rate provision]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | [[Category:Compliance_and_audit]] | ||
Revision as of 08:26, 30 January 2019
1. Accounting.
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.
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. Law.
A significant individual part of a law, for example a tax anti-avoidance provision.
4. Contract law.
A significant individual part of a contract, for example a clause or a term in a contract.
