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 ?
This means that in order to rein this type of behavior in, IT Security must work with IT to create some sort of simple way to use the corporate Cloud provisioning strategy to provide self-service to everyone in the business.
“Our company, StoAmigo, will be presenting our views on the proper vendor selection criteria for the healthcare industry - what to look for and what to avoid when choosing a cloud provisioning partner.”
Going forward, alongside plans for more cloud provisioning for clients, Al Ketbi is also looking at virtualisation of the ports systems that automate processes at Khalifa Port.
The new CloudTest Pro appliance provides: visual test creation tools that support dynamic content; automated test cloud provisioning and management; real-time results aggregation and correlation; and access to the company's Global Test Cloud
Neera Labs have developed most effective and affordable ERP solutions for more than 15 industry segments in couple of years and is capable of automating the business process using instant cloud provisioning platform.