Deletion and General provision: Difference between pages

Revision as of 10:18, 27 November 2014

Accounting and tax.

A general provision is an accounting liability which is not linked with specific items.

For example a general bad debt provision, calculated as a global percentage of all receivables.

Movements on general provisions are not allowable expenditure for tax purposes.

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-A mechanism where some or all transfers to/from a defaulting participant are excluded from the settlement process.
+<i>Accounting and tax</i>.
-In a netting scheme, this entails the recalculation of other participants’ bilateral and/or multilateral net positions.
+A general provision is an accounting liability which is not linked with specific items.
+For example a general bad debt provision, calculated as a global percentage of all receivables.
+Movements on general provisions are not allowable expenditure for tax purposes.
 == See also ==
-* [[Default]]
+* [[Bad debt provision]]
-* [[Netting]]
+* [[Provision]]
+* [[Receivables]]
+[[Category:Accounting,_tax_and_regulation]]