The term provision covers a wide range of different items: Impairment losses; provisions that reflect an increase in the company's Liabilities in the shorter or longer term relating to a charge that has not yet been incurred by the financial year-end, but is likely to arise and is connected with operations carried out during the year; tax-regulated provisions (strictly speaking they are not provisions). Aside from tax-regulated provisions, provisions are set-aside in anticipation of a charge.

(See Chapter 7 How to cope with the most complex points in financial accounts of the Vernimmen)

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