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.
Segen's Medical Dictionary. © 2012 Farlex, Inc. All rights reserved.
References in periodicals archive ?
Emphasis differs in utility computing between the enterprise and SMB Enterprise SMB * Traditional definition of * Simplified utility computing model utility computing as a pay-per- that works in non-enterprise use computing model environments * Emphasis on automatic * SPs may use automatic provisioning provisioning to handle large and other enterprise utility amounts of data computing requirements, but * Uses grid computing and SOA as emphasis is on managing network foundational architectures for clients with small IT staffs.
Part of the recently launched “Advanced Adapter Series,” connectors (application programming interface also known as API) for salesforce.com, SAP ECC, AS400 iSeries and GoogleApps received an upgrade to better facilitate automatic provisioning, reconciliation and password management combined with a seamless integration CloudAccess' enterprise access control solution.
It also features automatic provisioning, high-performance caching, synchronous snapshots, deduplication and encryption.

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