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Ally splitting in the morning is perhaps AWOL (7)

Ross

I believe the answer is:

acronym

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'perhaps awol' is the definition.
Although both the answer and definition are singular nouns, I don't see how they can define each other.

'ally splitting in the morning' is the wordplay.
'ally' becomes 'crony' (I've seen this in another clue).
'splitting' is an insertion indicator.
'in the morning' becomes 'am' (AM on a clock).
'crony' going inside 'am' is 'ACRONYM'.

'is' is the link.

Can you help me to learn more?

(Other definitions for acronym that I've seen before include "quango, perhaps" , "A word formed from the initial letters of others" , "Radar or Nato, maybe" , "Perhaps NATO" , "UNICEF, perhaps" .)

I've seen this clue in The Telegraph.
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