As for the rest of the time--when I'm watching ballroom-dancing competitions and searching for batteries for my Bop It and extracting all the sopapilla pieces from a gallon of limited edition cinnamon ice cream with the precision of a brain surgeon--there's no real excuse.
Definition of ALLOWANCE: A deduction, an average payment, a portion assigned or allowed: the act of allowing. The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed. Navigation
Valuation allowance Definition. Funds in an account established to cover probable loan losses. If a savings association believes a loan is uncollectible, it sets aside in the reserve account a portion of earnings equal to the difference between unpaid principal and the market value of the loan.