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synthetic lease

Turkish translation: sûni kira

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:synthetic lease
Turkish translation:sûni kira
Entered by: Taner Göde
Options:
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- Include in personal glossary

12:50 Nov 1, 2007
English to Turkish translations [PRO]
Law/Patents - Law: Contract(s) / Real Property
English term or phrase: synthetic lease
Pasif sayılmadığı için bilançoda görünmeyen bir kira türü. Acaba "sentetik kira" mı deniyor?
Buray
Turkey
Local time: 13:05
resmi olmayan / örtülü / gizli / gayrı meşru kira geliri (veya kiralama)
Explanation:
synthetic = suni

resmi olmayan / örtülü / gizli / gayrı meşru kira geliri (veya kiralama)


http://en.wikipedia.org/wiki/Synthetic_lease

A synthetic lease is a financing structure by which a company structures the ownership of an asset so that -

for financial accounting purposes (under pre-2003 U.S. financial accounting rules), the asset is owned by a special-purpose entity and leased to the operating company under an operating lease. The special-purpose entity is usually owned by the lessee / operating company, and is given just enough independence so that it can be taken off the operating company's balance sheet. The asset is thus recorded as an asset on the balance sheet of the special purpose entity, not of the lessee / operating company. Thus, depreciation of the asset need not be charged against income of the operating company. Instead, the lease payments are recorded as an expense on the income statement.
for tax purposes, the asset is owned by the operating company (or the special-purpose entity is consolidated with the operating company, so that the two are treated as a single entity for tax accounting purposes). Thus, the operating company can deduct depreciation of the asset for tax purposes, generally on an accelerated depreciation schedule.
Effectively, the asset is owned indirectly by the lessee / operating company, and the company leases the asset to itself. The post-Enron rules of the Financial Accounting Standards Board, which require some measure of independence of a special purpose entity from the operating company, and genuine economic substance to the transaction in which the SPE is a party, made it difficult or impossible to structure a synthetic lease SPE, so synthetic leases have essentially passed out of existence.

Synthetic leases are considered vulnerable in some jurisdictions to recharacterisation.

Generally, the money to finance the asset is borrowed, and the lender takes a security interest against the asset, but has no further recourse against the borrower / operating company.
Selected response from:

Taner Göde
Local time: 13:05
Grading comment
Uygulamada kullanıldığına dair bir belirti bulamadım ama mantıklı çözüm bu görünüyor. Teşekkür ederim.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2resmi olmayan / örtülü / gizli / gayrı meşru kira geliri (veya kiralama)
Taner Göde
4sentetik kira
Mehmet Hascan


  

Answers


11 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
resmi olmayan / örtülü / gizli / gayrı meşru kira geliri (veya kiralama)


Explanation:
synthetic = suni

resmi olmayan / örtülü / gizli / gayrı meşru kira geliri (veya kiralama)


http://en.wikipedia.org/wiki/Synthetic_lease

A synthetic lease is a financing structure by which a company structures the ownership of an asset so that -

for financial accounting purposes (under pre-2003 U.S. financial accounting rules), the asset is owned by a special-purpose entity and leased to the operating company under an operating lease. The special-purpose entity is usually owned by the lessee / operating company, and is given just enough independence so that it can be taken off the operating company's balance sheet. The asset is thus recorded as an asset on the balance sheet of the special purpose entity, not of the lessee / operating company. Thus, depreciation of the asset need not be charged against income of the operating company. Instead, the lease payments are recorded as an expense on the income statement.
for tax purposes, the asset is owned by the operating company (or the special-purpose entity is consolidated with the operating company, so that the two are treated as a single entity for tax accounting purposes). Thus, the operating company can deduct depreciation of the asset for tax purposes, generally on an accelerated depreciation schedule.
Effectively, the asset is owned indirectly by the lessee / operating company, and the company leases the asset to itself. The post-Enron rules of the Financial Accounting Standards Board, which require some measure of independence of a special purpose entity from the operating company, and genuine economic substance to the transaction in which the SPE is a party, made it difficult or impossible to structure a synthetic lease SPE, so synthetic leases have essentially passed out of existence.

Synthetic leases are considered vulnerable in some jurisdictions to recharacterisation.

Generally, the money to finance the asset is borrowed, and the lender takes a security interest against the asset, but has no further recourse against the borrower / operating company.


Taner Göde
Local time: 13:05
Works in field
Native speaker of: Native in TurkishTurkish
PRO pts in category: 56
Grading comment
Uygulamada kullanıldığına dair bir belirti bulamadım ama mantıklı çözüm bu görünüyor. Teşekkür ederim.
Notes to answerer
Asker: Uygulamada verdiğiniz seçeneklerden hangisi en çok kullanılıyor?


Peer comments on this answer (and responses from the answerer)
agree  ozan karakış
41 mins
  -> Teşekkür ederim.

agree  mustafa karabiber
51 mins
  -> Teşekkür ederim.
Login to enter a peer comment (or grade)

34 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
sentetik kira


Explanation:
http://64.233.183.104/search?q=cache:RvB5qDqazXEJ:www.fider....

Basically, a synthetic lease allows a company to control real estate without being required to show the real estate as an asset on the financial statements.
http://www.investopedia.com/terms/s/syntheticlease.asp


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Note added at 36 mins (2007-11-01 13:26:10 GMT)
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Sentetik Leasing, kurumsal bir gayrimenkulün veya ekipman›nfinansman› olup, vergisel amaçlar için sermaye transferi yap›lanve muhasebe avantaj› için operasyonel leasing yap›lan bir me-toddur.Do¤ru bir flekilde yap›land›r›lan Sentetik Leasing’de kira-c› sabit k›ymet amortisman›n› ay›r›r ve kiralar›n faiz ödemelerinigider olarak kaydeder. Ancak, bu ifllem ne aktifinde sabit k›ymetolarak yeral›r ne de borç olarak pasifinde görünür

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Note added at 37 mins (2007-11-01 13:27:55 GMT)
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http://64.233.183.104/search?q=cache:m0yR5pebjsUJ:www.tbb.or...

Mehmet Hascan
Ireland
Local time: 11:05
Native speaker of: Turkish
PRO pts in category: 28
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Changes made by editors
Nov 8, 2007 - Changes made by Taner Göde:
Edited KOG entry<a href="/profile/132926">Buray's</a> old entry - "synthetic lease" » "sûni kira"


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