Provision and Receivables: Difference between pages

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imported>Doug Williamson
(Add 3rd definition.)
 
imported>Doug Williamson
(Re-order.)
 
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1. ''Accounting - noun''.  
1.


A form of liability where there is uncertainty as to the amount and timing of final settlement.
''Accounting.'' 


Relevant accounting standards include IAS 37 and Section 21 of FRS 102.
Amounts which are due to be received by a reporting entity.




2. ''Accounting - noun''.
2.


A reduction in the carrying amount, or net book value, of an asset to recognise an estimated reduction in value.
All amounts due from obligors both under trading contracts and under negotiable instruments.
 
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.




== See also ==
== See also ==
* [[Accrual]]
* [[AR]]
* [[Anti-avoidance provision]]
* [[Debtors]]
* [[Bad debt provision]]
* [[Direct collection]]
* [[Book reserve]]
* [[Call provision]]
* [[Carrying amount]]
* [[Contract]]
* [[Depreciation]]
* [[FRS 102]]
* [[General provision]]
* [[General provision]]
* [[IAS 37]]
* [[Loans and receivables]]
* [[Liabilities]]
* [[Negotiable instrument]]
* [[Make whole provision]]
* [[Obligor]]
* [[Net book value]]
* [[Payables]]
* [[Term]]
* [[Receivable put]]
* [[Zero rate provision]]
* [[Receivables finance]]
 
* [[Receivables management]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]

Revision as of 14:07, 20 June 2016

1.

Accounting.

Amounts which are due to be received by a reporting entity.


2.

All amounts due from obligors both under trading contracts and under negotiable instruments.


See also

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