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 ?
Early on, Kinder cautions us that it's "unfair to expect fragmented self-provisioning to reverse Detroit's trenchant history of disinvestment, racism, and crisis." And indeed, the efforts of the residents she interviews seem puny against the sheer magnitude of the collapse of a major city and the exodus of much of its population and economic base.
Anarchist scholars, critical of lifestyle-based politics and conventional forms of activism, draw a stark distinction between their visions of autonomy and those of other self-provisioning projects (Holloway, 2010; Pickerill and Chatterton, 2006).
(14) Smallholder farmers' objectives often include both accessing markets and self-provisioning: they typically consume a portion of their harvests and sell the rest.
Echoworx Corporation, a provider of managed encryption services for enterprise e-mail, announced today the availability of a self-provisioning capability for its Encrypted Mail Gateway product.
Primary and second most important form of work for living standard: % of households Secondary strategy Unpaid Self-provisioning mutual aid Primary Self-provisioning 0.9 1.7 strategy Mutual aid 0.2 0.9 Off-the-books 3.4 4.1 work Formal job 10.3 17.5 Pension/Benefits 2.9 4.1 Secondary strategy Off-the-books Formal work job Primary Self-provisioning 2.2 2.4 strategy Mutual aid 1.0 1.4 Off-the-books 1.5 6.0 work Formal job 18.4 9.5 Pension/Benefits 1.4 0.5 Secondary strategy Benefits All Primary Self-provisioning 0.5 7.7 strategy Mutual aid 1.0 4.5 Off-the-books 1.4 16.4 work Formal job 5.7 61.4 Pension/Benefits 1.0 9.9 Source: 2005-06 Ukraine survey.
Borrero and Raleigh are agreed on this point, although unlike Raleigh, Borrero devotes considerable attention not only to the organizational practices of the state, the municipal food supply policy in Moscow, and the contradictions between them but also to the survival strategies of ordinary consumers--"self-provisioning" and the "bag trade" (chapter 4), the odd combination of "old" and "new" consumer habits (chapters 5-6), and the black market (chapter 7).
Services should be categorised so that the system is largely self-provisioning. But if these exceed certain parameters, there must be measures in place to capture that information in order to bill for it.
The automation and self-provisioning elements of the PlayStream platform expand VitalStream's reach, making streaming solutions available to a wider range of users.
Rooted in a qualitative research project with 70 stay-at-home fathers in Canada, this paper explores the ways that work and family interact for fathers who "trade cash for care." While fathers are at home, they also remain connected to traditionally masculine sources of identity such as paid work and they take on unpaid masculine self-provisioning work at home and community work that builds on traditional male interests.
The inserted disk performs some basic network set-up tasks that are needed for self-provisioning and leads the customer to the service provider's Web page.
Verizon Wireless' push-to-talk service features self-provisioning contact lists that let users talk one-to-one or with groups of up to 10 participants.
Object-based storage clustering is core to the on-demand computing wave, where IT infrastructure is presented as a unified resource that is self-provisioning, highly scalable and dynamically self-managing.