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rückgestellt

English translation: rewrite using "provision"


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08:05 Dec 13, 2011
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: rückgestellt
"Reklamationskosten aus den alten Qualitätsproblem bezüglich XX werden in 2011 rückgestellt"

What does rückstellen mean in this context?

TIA for any help!
phoeberuth
Local time: 00:18
English translation:rewrite using "provision"
Explanation:
My reading of the sentence is that a provision ("Rückstellung") is formed for these expenses.

For example, in its 2010 financial statements, the Austrian central bank (OeNB) translates

"Darin sind entrichtete und rückgestellte Pensionskassenbeiträge enthalten."
http://www.oenb.at/de/img/gb_2009_tcm14-192068.pdf

as

"This item includes pension plan contributions and provisions for such contributions."
http://www.oenb.at/bilanz2010/en/downloads/Financial_Stateme...
Selected response from:

Bruce Campbell
Local time: 18:18
Grading comment
Many thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4rewrite using "provision"Bruce Campbell
3restituted
Nutan Niphadkar
3accrued forpj-ffm


  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
accrued for


Explanation:
"Accrued for" would make sense here

pj-ffm
Local time: 00:18
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
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38 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
restituted


Explanation:
It probably refers to liability claims, wherein, expenses incurred on complaints related to quality problems are refunded.

Nutan Niphadkar
India
Local time: 03:48
Native speaker of: Native in EnglishEnglish
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51 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
rewrite using "provision"


Explanation:
My reading of the sentence is that a provision ("Rückstellung") is formed for these expenses.

For example, in its 2010 financial statements, the Austrian central bank (OeNB) translates

"Darin sind entrichtete und rückgestellte Pensionskassenbeiträge enthalten."
http://www.oenb.at/de/img/gb_2009_tcm14-192068.pdf

as

"This item includes pension plan contributions and provisions for such contributions."
http://www.oenb.at/bilanz2010/en/downloads/Financial_Stateme...


Bruce Campbell
Local time: 18:18
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
Grading comment
Many thanks!

Peer comments on this answer (and responses from the answerer)
agree  Steffen Walter
12 mins

agree  Oliver_F
1 hr

agree  Cetacea
4 hrs

agree  Ted Wozniak: A provision was established/recognized for ....
6 hrs
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Changes made by editors
Dec 13, 2011 - Changes made by Steffen Walter:
Field (specific)Business/Commerce (general) => Accounting


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