ANZ

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    Financial Dictionary

    Dictionary Home The Language of Money - Edna Carew
    A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



    Provisions

    The allowance that companies make as a charge against profits in order to account for expenses which have been incurred but for which the amount and time of payment can only be estimated - for example, provisions for long-service leave or provision for bad debts. Sometimes provisions are used to manipulate reported profits. Overprovision in good years can create 'hidden reserves'. These overprovisions can be reversed in bad years to avoid a fall in profits.

    Important notice