👉 Foreprovision is a term used in accounting and finance to describe the process of preparing financial statements by assessing, valuing, and adjusting financial information to reflect current conditions rather than historical data. This involves understanding the future trends and changes that are likely to affect the company's financial performance. Foreprovision typically occurs before an accounting period begins and involves analyzing past financial statements to identify any discrepancies or areas where adjustments may be necessary for improved transparency and accountability in financial reporting. Foreprovision is often used
