Provisions for paid leave of absence (paid vacation)

That isn’t how holiday pay works. If the salary is $120,000 a year, the employee is paid $10,000 regardless of whether they are working or taking any days’ holiday during the month.
Accounting for holiday accruals is just normal accruals accounting – not “provisioning”.

So if, for whatever reason, the accounting y/e was 31.12.18 and the employee hasn’t taken his 15 days (yet) – but carrying forward 5 days, say, to take in the new year, the company would accrue 5/240 x $120,000 = $2,500. (I’m assuming 240 working days a year)
One way of looking at this is if the employee were to cease employment at the y/e, he’d be entitled to be paid for holiday not yet taken.
Similarly, if the employee took 20 days in the first 6 months – they technically “owe” the company to work those days or reimburse the company – so the company would recognise a prepayment (of the same amount).

If holiday years coincide with financial years and employees must “use it or lose it”, no adjustment would be necessary.