Performance and Provision: Difference between pages

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1. ''Financial reporting and measures''.
1. ''Financial reporting - balance sheet - liabilities''.  


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


Often measured by performance ratios, among other measures.
Relevant accounting standards include IAS 37 and Section 21 of FRS 102.




2. ''Contract law.''
2. ''Accounting - noun''.


In contract law, performance of a contract means that the parties meet their contractual obligations as agreed.
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.


Performance also refers to measures of an employee's or contractor's fulfilment of their duties.
3. ''Accounting - verb''.


In this context, measures of performance may be qualitative or quantitative.
To create an accounting provision, or increase the amount of a provision.




4.
4. ''Law''.  


In relation to a company or business, performance can refer to the company's fulfilment of investors' expectations.
A significant individual part of a law, for example a tax anti-avoidance provision.


For example, as measured by performance ratios or gains in shareholder value.


5. ''Contract law''.


5.
A significant individual part of a contract, for example a clause or a term in a contract.
 
Any measure of activity, particularly when compared with a pre-defined standard.
 
For example, payments practices under related reporting regulations.




== See also ==
== See also ==
* [[Accrual]]
* [[Anti-avoidance provision]]
* [[Bad debt provision]]
* [[Big bath]]
* [[Book reserve]]
* [[Call provision]]
* [[Carrying amount]]
* [[Contract]]
* [[Contract]]
* [[Discharge of contract]]
* [[Deficit]]
* [[Environmental profit and loss]]
* [[Depreciation]]
* [[Financial reporting]]
* [[FRS 102]]
* [[Frustration]]
* [[General provision]]
* [[Key performance indicator]] (KPI)
* [[IAS 37]]
* [[Performance bond]]
* [[Liabilities]]
* [[Performance ratio]]
* [[Make whole provision]]
* [[Performance risk]]
* [[Net book value]]
* [[Performance spread]]
* [[Prudence]]
* [[Profitability]]
* [[Reserve]]
* [[Profitability ratio]]
* [[Term]]
* [[Reporting on Payment Practices and Performance Regulations]]
* [[Zero rate provision]]
* [[Shareholder value]]
* [[Specific performance]]
* [[Skills and performance coaching]]
* [[Sustainability performance target]]
* [[Treasury_performance_management_–_waste_of_time_or_a_necessity%3F|Treasury performance management – waste of time or a necessity?]]


[[Category:Commercial_drive_and_organisation]]
[[Category:Influencing]]
[[Category:Self_management_and_accountability]]
[[Category:Working_effectively_with_others]]
[[Category:Financial_management]]
[[Category:Knowledge_and_information_management]]
[[Category:Planning_and_projects]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[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.


See also