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 ?
This position is starting to change as many vendors deliver user provisioning products that have been architected out-of-the-box to be easier to implement and maintain, thereby lowering the entry costs and project timeline for the small and medium size business.
The company currently uses paper-based processes for requesting, approving, and provisioning access to network resources, phones, and physical areas via badge readers for employees and contractors.
As an extension of its effort to put in place a best-in-class IT infrastructure, Catholic Healthcare West tapped Courion to help automate its user provisioning and access verification audit process.
By enabling automated password reset and provisioning, Metropolitan frees resources and budget to focus on initiatives necessary to further secure and protect its operations," according to Cheryl Santor, Information Security Manager for Metropolitan Water District.
Courion[R] Corporation, the provisioning experts for results-driven operations, today announced that four leading US healthcare organizations have selected the Courion Enterprise Provisioning Suite[TM] to automate critical aspects of their identity management strategies.
RSA, The Security Division of EMC, Teams With Diversinet to Deliver Provisioning Server for RSA SecurID([R]) Two-Factor Authentication Solution to Its Enterprise Customers Worldwide
Courion[R] Corporation, the provisioning experts for results-driven operations, today announced record performance for 2006, including a 38 percent increase in total new sales growth and 43 percent new provisioning sales growth.
The Dynamic Resource Provisioning Solution Enables Real-Time and State-Aware Network Provisioning to Facilitate Faster Revenue Growth for Next Generation Services
This strategic technology acquisition extends Citrix's end-to-end application delivery infrastructure leadership by enabling the real-time, on demand provisioning of desktops, server images and service oriented architecture objects.