what does current provision mean - EAS
- What is a Provision? A provision is the amount of an expense that an entity elects to recognize now, before it has precise information about the exact amount of the expense. For example, an entity routinely records provisions for bad debts, sales allowances, and inventory obsolescence.
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- https://www.lawinsider.com/dictionary/current-provisions
WebRelated to CURRENT PROVISIONS. Adjustment Provisions means all relevant provisions of these Conditions which provide for any adjustment, delay, modification, cancellation or determination in relation to an Index, the valuation procedure for an …
- https://www.merriam-webster.com/dictionary/provision
Webprovision 1 of 2 noun pro· vi· sion prə-ˈvi-zhən 1 a : the act or process of providing b : the fact or state of being prepared beforehand c : a measure taken beforehand to deal with a …
- https://www.futureaccountant.com/funds-flow-cash...
WebJan 1, 2010 · current area represents an account that has been created through a charge on profits. non-current area represents an account that has been created through an …
- https://corporatefinanceinstitute.com/resources/accounting/provisions
WebJan 3, 2020 · A provision stands for liability of uncertain time and amount. Provisions include warranties, income tax liabilities, future litigation fees, etc. They appear on a …
- https://www.accountingtools.com/articles/provision
WebDec 6, 2022 · A provision is the amount of an expense that an entity elects to recognize now, before it has precise information about the exact amount of the expense. For …
- https://thewordcounter.com/meaning-of-provision
WebOct 27, 2021 · This word has been used to mean some supply of necessary things since the mid-15th century, and specifically for food since 1600. It has been used in law since the …
- https://tax.thomsonreuters.com/blog/tax-provision...
WebSep 2, 2021 · Simply put, a tax provision is the estimated amount of income tax that a company is legally expected to pay to the IRS for the current year. A tax provision is just one type of provision that corporate …
- https://www.wallstreetmojo.com/provision-in-accounting
WebProvisions act as a cushion against future liabilities or on the happening of uncertain events. Instead of impacting the Income Statement in one go, provision helps businesses …
- https://www.upwork.com/resources/what-is-tax-provision
WebMar 21, 2022 · A tax provision is the estimated amount that your business is expected to pay in state and federal taxes for the current year. While a provision is a financial …
- https://www.investopedia.com/terms/c/currentratio…
WebJul 11, 2022 · The current ratio measures a company’s ability to pay current, or short-term, liabilities (debts and payables) with its current, or short-term, assets, such as cash, inventory, and receivables.
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