Performance and Provision: Difference between pages
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1. ''Financial reporting | 1. ''Financial reporting - balance sheet - liabilities''. | ||
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. '' | 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. | 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]] | |||
* [[Anti-avoidance provision]] | |||
* [[Bad debt provision]] | |||
* [[Big bath]] | |||
* [[Book reserve]] | |||
* [[Call provision]] | |||
* [[Carrying amount]] | |||
* [[Contract]] | * [[Contract]] | ||
* [[ | * [[Deficit]] | ||
* [[ | * [[Depreciation]] | ||
* [[ | * [[FRS 102]] | ||
* [[ | * [[General provision]] | ||
* [[ | * [[IAS 37]] | ||
* [[ | * [[Liabilities]] | ||
* [[ | * [[Make whole provision]] | ||
* [[ | * [[Net book value]] | ||
* [[Prudence]] | |||
* [[Reserve]] | |||
* [[Term]] | |||
* [[Zero rate provision]] | |||
* [[ | |||
* [[ | |||
* [[ | |||
* [[ | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:Compliance_and_audit]] | [[Category:Compliance_and_audit]] |
Revision as of 15:58, 15 November 2020
1. Financial reporting - balance sheet - liabilities.
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.