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.


See also