Something useful, as arranged (5)
I believe the answer is:
asset
'something useful' is the definition.
(I've seen this before)
'as arranged' is the wordplay.
'arranged' becomes 'set' (similar in meaning).
'as'+'set'='ASSET'
(Other definitions for asset that I've seen before include "Something valuable to have" , "A thing of value" , "Useful or valuable property" , "Help" , "One bringing benefit" .)