amounts set aside by an authority. The main category is estimates of liabilities or losses already incurred but whose exact amount will be determined in the future (eg bad debts, stock obsolescence). Movements to provisions - rather than payments from provisions - score as expenditure (as a running expense).

One or more accounts set up to account for expected future payments (eg. where a business is expecting a bill, but hasn't yet received it).

Long-term liabilities other than debt and specific accounts payable

A charge made against the assets of a company for some cost, which will be incurred in the future, but has yet to be paid out.

The sums that companies include in their Balance Sheet for prospective, future, liabilities that can not yet be fully quantified.

sums set aside to meet any liabilities or losses which are likely or certain to be incurred, but uncertain as to the amounts or dates on which they will arise.

Amounts set aside in anticipation of bad debts and losses in the accounts of the lender.

Amounts set aside in the accounts of a lender in anticipation of bad debts and losses attributable to present assets.

These are liabilities where the company is uncertain as to the amount or timing of the expected future costs. For example, if a company is subject to a law suit, it may provide now for the expected liability on loss of the law suit. This is an example of the prudence concept.

Amounts set aside for liabilities that are not yet certain.

The statements in an insurance policy that explain the benefits, conditions, and other features of the insurance contract.

A list of actions a policyholder must take in order to make an insurance claim. Included in provisions can be additional specifications of the insurer's responsibility to the insured.

The terms of the policy outlining the circumstances under which the benefits are payable.

Words, sentences, and paragraphs in an insurance contract that specify the terms and limitations of the policy as well as the rights and obligations of the insured and the insurer.

Details of an insurance policy which explain the benefits, conditions and other features of the insurance contract.

The terms or conditions of an insurance policy.

Supplies of food and drink