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 ?
Different solutions considered include SDN switching, SDN controllers, cloud provisioning and orchestration and others which include security and services.
For example the cloud -- not just the concept of cloud, but the specific technical execution of cloud provisioning automation and cloud management automation, cloud service catalogue definition.
It takes advantage of ScaleXtreme's rich monitoring, budgeting, patch management, cloud provisioning and automation capabilities.
These tightly-integrated products offer an unmatched mix of security with granular policy controls down to the application; advancements in user experience; management with end-user focused monitoring and reporting; and cloud-style openness and flexibility with multi-cloud support and native cloud provisioning built in.
In terms of solutions, cloud provisioning and orchestration dominates the global SDN market.
Cloud provisioning and monitoring software is fast becoming essential for enterprises in a world where everything must be done faster and more efficiently and few companies have time to sort out human error.
Customers can be assured that ScaleXtreme's cloud-based systems management tools have successfully passed a series of tests established by Citrix, and can be trusted to work effectively with CloudStack in order to accelerate cloud provisioning and to facilitate cloud patching, budget control and management.
Windstream Hosted Solutions, part of Windstream and one of the nation s premier providers of enterprise-class managed hosted solutions, today announced that it has incorporated a new system that reduces customized cloud provisioning time from days to hours.
Eddy Alejos, Technical Director at 365 iTMS, explains, "We have built a successful IT support and Cloud provisioning business on our technical excellence and expertise.