Provision vs Estimation - What's the difference?
provision | estimation |
An item of goods or supplies, especially food, obtained for future use.
* Francis Bacon
* Milton
The act of providing, or making previous preparation.
Money set aside for a future event.
(accounting) A liability or contra account to recognise likely future adverse events associated with current transactions.
(legal) A clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso.
(Roman Catholic) Regular induction into a benefice, comprehending nomination, collation, and installation.
(UK, historical) A nomination by the pope to a benefice before it became vacant, depriving the patron of his right of presentation.
The process of making an estimate.
The amount, extent, position, size, or value reached in an estimate.
Esteem or favourable regard.
As nouns the difference between provision and estimation
is that provision is provision while estimation is the process of making an estimate.provision
English
Noun
(en noun)- making provision for the relief of strangers
- And of provisions laid in large, / For man and beast.
- (Shakespeare)
- We increased our provision for bad debts on credit sales going into the recession.
- An arrest shall be made in accordance with the provisions of this Act.
- (Blackstone)