| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | | English term or phrase: | demand consumption | | English translation: | theory /forecast of consumption based upon projections of end consumer spending | | Entered by: | Jenni Lukac |
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English to English translations [PRO]
Bus/Financial - Business/Commerce (general) | | English term or phrase: demand consumption | I’m translating into Polish a document outlining a company’s policy with respect to accounting for slow-moving, obsolete and defective inventory. The company is a large international chemicals and coatings manufacturer.
One of the tabulated guidelines, relating to raw materials, reads as follows:
‘’Criteria: No consumption for 9 months and no forecast
Action - physical: dispose of inventory.
Action – financial: write off 100% of value.
Criteria: > 3 years forecast consumption on hand
Action – physical: none
Action - physical: Write off 50% of value that represents inventory excess greater than 3 years inventory on hand based on demand consumption (forecast).
Criteria: > 5 years sales forecast on hand
Action – physical: dispose inventory in excess of 5 years demand.
Action - physical: write off 100% of value that represents inventory excess greater than 5 years inventory on hand based on sales demand (forecast).’’
(the words ‘’criteria’’, ‘’action – physical’’, and ‘’action – financial’’ are the table columns headings).
What exactly is ‘’demand consumption’’, as opposed to ‘’consumption’’? I know each word if used in isolation, but when they're put together like this, I can't quite work out the meaning.
Thank you |
| Grzegorz MysińskiKudoZ activityQuestions: 555 (none open) ( 12 closed without grading) Answers: 876
Poland
| | Local time: 01:29
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| | theory /forecast of consumption based upon projections of end consumer spending | Explanation:
Definition of consumption demand: Consumption demand represents the demand for goods and services by individuals and households in the economy. This is the major category in the national income accounts for most countries, typically comprising from 50% to 70% of the GNP.
In this model, the main determinant of consumption demand is disposable income. Disposable income is all the income households have at their disposal to spend. It is defined as national income (GNP), minus taxes taken away by the government, plus transfer payments that the government pays out to people. More formally this is written as,
Yd = Y - T + TR
where Yd refers to disposable income, Y is real GNP, T is taxes and TR represents transfer payments. http://internationalecon.com/Finance/Fch50/F50-2.php
In relation to chemicals and coatings, the forecast for demand consumption would be based upon a forecast analysis of what end comsumer demand is likely to be for all products that require these chemicals and coatings in the manufacturing process. Many things are factored in, such as international competition for these raw materials and products that may affect the demand and the price, the state of the national or world economy, etc.
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| Selected response from:
Jenni Lukac
Spain
Local time: 01:29
| Grading comment Thank you very much, Jenni!
4 KudoZ points were awarded for this answer |
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41 mins confidence:   peer agreement (net): +5 | theory /forecast of consumption based upon projections of end consumer spending
Explanation:
Definition of consumption demand: Consumption demand represents the demand for goods and services by individuals and households in the economy. This is the major category in the national income accounts for most countries, typically comprising from 50% to 70% of the GNP.
In this model, the main determinant of consumption demand is disposable income. Disposable income is all the income households have at their disposal to spend. It is defined as national income (GNP), minus taxes taken away by the government, plus transfer payments that the government pays out to people. More formally this is written as,
Yd = Y - T + TR
where Yd refers to disposable income, Y is real GNP, T is taxes and TR represents transfer payments. http://internationalecon.com/Finance/Fch50/F50-2.php
In relation to chemicals and coatings, the forecast for demand consumption would be based upon a forecast analysis of what end comsumer demand is likely to be for all products that require these chemicals and coatings in the manufacturing process. Many things are factored in, such as international competition for these raw materials and products that may affect the demand and the price, the state of the national or world economy, etc.
| Jenni Lukac
Spain
Local time: 01:29
Specializes in field
Native speaker of:  English
PRO pts in category: 4
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| | Grading comment | Thank you very much, Jenni! |
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