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German to English translations [PRO] Bus/Financial - Accounting / annual report
German term or phrase:absatzmarktorientiert
Hi Proz,
This is from an Annual Report for a German company reporting under US GAAP (target language US English), but I think this term is HGB. I checked the complete IAS issued by the EU, and can't find the term. The rest of the translation below is accurate, but what specifically does this term mean? If you know the British English term, then please help with that, too.
Die Rückstellungen für ***absatzmarktorientierte*** Verpflichtungen enthalten im Wesentlichen Verlustrisiken aus schwebenden Verkaufskontrakten.
Provisions for ***absatzmarktorientierte*** liabilities consist primarily of the risk of loss on open purchase contracts.
I'll also be posting "beschaffungsmarktorientiert" separately.
Explanation: This refers to risks relating to liabilities to customers.
What's also critical here is that under US GAAP, Rückstellungen are "accruals" or "accrued liabilities", not provisions. "Provisions" under US GAAP are rather different: they are charges in the income statement, e.g. "provisions for income taxes". Rückstellungen für absatzmarktorientierte Verpflichtungen would therefore be "accrued customer(-related) obligations" or "accrued obligations to customers".
"Provisions" is the term used for the HGB and IASs/IFRSs.
Verlustrisiken aus schwebenden Verkaufskontrakten would be something like "potential losses from uncompleted customer contracts" or "onerous executory customer contracts".
-------------------------------------------------- Note added at 2 hrs 46 mins (2004-01-23 21:24:41 GMT) --------------------------------------------------
or \"accrued customer(-related) liabilities\", \"accrued liabilities to customers\"
Explanation: Something of a guess as regards the English term, but it would seem to relate to the LCM (lower of cost or market value) principle and here is my source with an explanation at least:
Nach US-GAAP ist gemäß ARB 43 bei der Vorratsbewertung ebenfalls das strenge Niederstwertprinzip ("lower of cost or market") anzuwenden, wobei im Unterschied zum HGB für alle Vorrätegruppen bei der Ermittlung des Wertansatzes sowohl der Beschaffungs- als auch der Absatzmarkt berücksichtigt werden. Unterschreiten die Wiederbeschaffungskosten die Anschaffungs- bzw. Herstellungskosten, so sind die Vorräte mit dem mittleren Wert von Wiederbeschaffungskosten, realisierbarem Netto-Veräußerungswert und realisierbarem Netto-Veräußerungswert abzüglich der normalen Gewinnspanne anzusetzen. Dabei ist der realisierbare Veräußerungswert abzüglich der üblichen Gewinnmarge die Wertuntergrenze, selbst wenn die Wiederbeschaffungskosten diesen Wert unterschreiten.
Explanation: This refers to risks relating to liabilities to customers.
What's also critical here is that under US GAAP, Rückstellungen are "accruals" or "accrued liabilities", not provisions. "Provisions" under US GAAP are rather different: they are charges in the income statement, e.g. "provisions for income taxes". Rückstellungen für absatzmarktorientierte Verpflichtungen would therefore be "accrued customer(-related) obligations" or "accrued obligations to customers".
"Provisions" is the term used for the HGB and IASs/IFRSs.
Verlustrisiken aus schwebenden Verkaufskontrakten would be something like "potential losses from uncompleted customer contracts" or "onerous executory customer contracts".
-------------------------------------------------- Note added at 2 hrs 46 mins (2004-01-23 21:24:41 GMT) --------------------------------------------------
or \"accrued customer(-related) liabilities\", \"accrued liabilities to customers\"
RobinB Local time: 00:19 Specializes in field Native speaker of: English PRO pts in category: 837
The translation workplace 
