provision

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provision

A term which, as used in UK medical practice, corresponds to one or more legal conditions/provisos written into a contract or financial arrangement, when a particular type of expense is anticipated but its actual and final cost is uncertain—e.g., clinical negligence liability.

Provisions are included in contracts to comply with the accounting principle of prudence. An estimate of the likely expense is charged to the income and expenditure account—for the Department, to the Operating Cost Statement—as soon as the issue comes to light, even though a cash payout might not occur for many years, if at all. The expense is matched by a balance-sheet provision entry showing the potential liability to the organisation.
References in periodicals archive ?
April 11, 2011 /PRNewswire/ -- CA Technologies (NASDAQ: CA) today announced a new version of CA Service Catalog that integrates with CA Virtual Automation and CA Oblicore Guarantee(TM) to enable the automatic provisioning of physical, virtual and cloud services based on the cost and performance criteria of the service request.
We are particularly impressed by the hypervisor conversion and automatic provisioning, which will allow us to save significant time and resources.
Novell provides the automatic provisioning and deprovisioning across different systems and applications that we require in such a dynamic, changing environment.
Rapid Mobile's automatic provisioning platform capabilities mean that we are able to achieve this market reach through the development of only one version of the application, minimising engineering costs and time to market whilst meeting our stringent requirements for quality.
8 include automatic provisioning for Microsoft Exchange(TM), Active Directory(R) self-serviced password reset and enhanced real-time reporting.
DataMotion's patented technology allows dynamic creation of an account whenever a secure email is received, enabling automatic provisioning of new accounts.
Automatic provisioning of VPN settings for end-users via Nokia Security Service Manager
ActiveCampus Portal, based on Microsoft SharePoint([R]) technology, incorporates automatic provisioning, which makes it possible for every course section to have an online presence through a "team site," along with real-time student enrollment and out-of-the-box collaboration tools.

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