Provision
AccountingAlso called: Provisioning
A liability recognised when an outflow is probable and can be measured.
In plain terms
Whether something is a provision or a footnote is management’s judgement — and one reduces profit.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 1 term
Read the full lesson →