In the USA, the practice of making larger provisions for expenses in one year, in order to minimize them in future years. This effectively understates earnings in the present year but overstates them in subsequent years.
An in-depth look at clauses, their definitions, types, historical context, and importance in legal documents and contracts.
Clauses are specific provisions or sections within a contract that outline the exact responsibilities and conditions.
A provision is an amount set aside from profits in an organization's accounts for a known liability or diminution in asset value. This article explores the historical context, types, key events, detailed explanations, and more about provisions.
Comprehensive overview of reserves in finance, accounting, and natural resources, detailing their types, applications, and historical context.
Specific provisions are financial reserves set aside for known liabilities, unlike general provisions which cater to anticipated but unspecified future losses.
A nonrefundable provision in a bond indenture restricts the issuer's ability to retire bonds using proceeds from a subsequent issue, offering protection to bondholders until a specified date.
A comprehensive guide to understanding contract provisions, including definitions, types, considerations, and frequently asked questions.
