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premise

English translation: rental of leased premises

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17:33 Feb 14, 2005
English to English translations [PRO]
Bus/Financial - Accounting
English term or phrase: premise
used in business/accounting
espacial
English translation:rental of leased premises
Explanation:
As an expense entry in a profit and loss account this would almost certainly related to the rental costs for leased premises. The company for which you are translating is the lessee and they have a landlord to whom they pay rental every week/month/semester/year - normally monthly - to be able to operate from thse premises. The premises are most probably some form of office space or warehousing - depending on the type of business.

Hope this helps

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Note added at 11 mins (2005-02-14 17:45:25 GMT)
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almost certainly relate to......

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Note added at 55 mins (2005-02-14 18:28:37 GMT)
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In the context of a balance sheet - which sets out the assets and liabilities - the relevant entry is normally land and buildings

I the contest of a profit and loss account (also known as an income statement) you are dealing with income and expenditure.

If premises is listed an an EXPENSE - it must relate to the rental of premises. If the property is owned by the company in question it could conceivably refer to maintanance or other property-related expenses but this is highly unlikely as normally that would be under it\'s own listing Repairs and Maintenance.

PREMISES - in this content means a place of business. If it\'s an expense, then it must be because it\'s rented.

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Note added at 55 mins (2005-02-14 18:29:11 GMT)
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In the context - spelling!!!!!

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Note added at 1 day 20 hrs 24 mins (2005-02-16 13:58:10 GMT)
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rental is most certainly NOT a debit on a balance sheet as pretty has just suggested. It is an expense item and features in the profit and loss account (UK=income statement)

With all due respect pretty is not distinguishing between an expense and a liability.

A balance sheet reflects assets and liabilities at a particular date.

A profit and loss account )income statement) reflects income and expenditure over a stated period.

Rental is an expense item!!!!!

Selected response from:

Lawyer-Linguist
Portugal
Local time: 23:09
Grading comment
Graded automatically based on peer agreement.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2rental of leased premises
Lawyer-Linguist
4physical location >>>Maria Chmelarova
4property?Clare C
1presumption
Charlesp


Discussion entries: 6





  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
property?


Explanation:
"premise" alone would be basis of a proposition, as Debbie states. In a profit & loss account i would expect to see "premises", meaning property, land or buildings.


    Reference: http://dictionary.reference.com/search?q=premise
Clare C
Local time: 23:09
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  Lawyer-Linguist: that would be on a balance sheet - asset - and not a profit and loss account (i.e. income statement) as an expense
17 mins
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
physical location >>>


Explanation:
if premises is the word what you are looking for and not premise,
premises is land and the building on it or part of a building.

In accounting is ment for tax purposes, which would be considere as expenses or minus,debit on landlords? sheet. Somebody already mentioned that.
Premise - the underlying rationale for an argument or proposale


    Reference: http://www.investorwords.com
Maria Chmelarova
Local time: 18:09
Native speaker of: Slovak

Peer comments on this answer (and responses from the answerer)
neutral  Lawyer-Linguist: not land and buildings - that is an asset entry on a balance sheet - here the context is an expense in a profit and loss account - is rental//we have been given the context - see the asker's notes and my extra notes - you need to distinguish as stated.
21 hrs
  -> Premises: 1. in real estate, land and the improvements on it. 2. in legal pleading: "all that has hereinabove been stated". Since we don't have context in accounting, property (taxation ) or rent(al) is a debit on balance sheet.
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3 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
presumption


Explanation:
the presumption made, ie the premise relied upon, in making a statment, conclusion, or evaluation.

maybe.

Charlesp
Sweden
Local time: 00:09
Specializes in field
Native speaker of: English

Peer comments on this answer (and responses from the answerer)
neutral  Lawyer-Linguist: Charles, asker changed the question to premises - see the notes, otherwise you are right of course
9 mins
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11 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
premises
rental of leased premises


Explanation:
As an expense entry in a profit and loss account this would almost certainly related to the rental costs for leased premises. The company for which you are translating is the lessee and they have a landlord to whom they pay rental every week/month/semester/year - normally monthly - to be able to operate from thse premises. The premises are most probably some form of office space or warehousing - depending on the type of business.

Hope this helps

--------------------------------------------------
Note added at 11 mins (2005-02-14 17:45:25 GMT)
--------------------------------------------------

almost certainly relate to......

--------------------------------------------------
Note added at 55 mins (2005-02-14 18:28:37 GMT)
--------------------------------------------------

In the context of a balance sheet - which sets out the assets and liabilities - the relevant entry is normally land and buildings

I the contest of a profit and loss account (also known as an income statement) you are dealing with income and expenditure.

If premises is listed an an EXPENSE - it must relate to the rental of premises. If the property is owned by the company in question it could conceivably refer to maintanance or other property-related expenses but this is highly unlikely as normally that would be under it\'s own listing Repairs and Maintenance.

PREMISES - in this content means a place of business. If it\'s an expense, then it must be because it\'s rented.

--------------------------------------------------
Note added at 55 mins (2005-02-14 18:29:11 GMT)
--------------------------------------------------

In the context - spelling!!!!!

--------------------------------------------------
Note added at 1 day 20 hrs 24 mins (2005-02-16 13:58:10 GMT)
--------------------------------------------------

rental is most certainly NOT a debit on a balance sheet as pretty has just suggested. It is an expense item and features in the profit and loss account (UK=income statement)

With all due respect pretty is not distinguishing between an expense and a liability.

A balance sheet reflects assets and liabilities at a particular date.

A profit and loss account )income statement) reflects income and expenditure over a stated period.

Rental is an expense item!!!!!



Lawyer-Linguist
Portugal
Local time: 23:09
Native speaker of: English
PRO pts in category: 4
Grading comment
Graded automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Angela Dickson
175 days
  -> thanks Angela, pity asker doesn't close after 175 days ;-)

agree  Robert Donahue: This should help. : )
175 days
  -> :-) LOL - thanks Robert
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