English translation: securities for the provisioning of termination gratuities
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:
Wertpapiere für Abfertigungsvorsorge
securities for the provisioning of termination gratuities
German to English translations [PRO] Bus/Financial - Accounting / Financial Statements - Balance Sheet
German term or phrase:Wertpapiere für Abfertigungsvorsorge
This is from a balance sheet of an Austrian company. It is under financial investments. I understand 'Abfertigungen' to be 'severance payments' but I don't see what 'Wertpapiere' (securities) have to do with it.
equity investments [set aside in the accounts] for the terminal pay fund
Explanation: Osterr Rechts WB: 'Abfertigungsrücklage: Steuerecht, gesondert auszuweisende Bilanzposition mit Rückstellungscharakter in der Höhe non maximal 50% der *theoretischen* Abfertigungsansprüche um Bilanzstichtag ($ 14 EStG - Einkommenssteuergesetz).'
Au. companies/partnerships to set aside in the accounts - in this case stocks & shares - an entry to cover 50% of notional severance: lay-off/terminal pay - as per Ingrid - claims. Idea to relieve the burden on *notional* unemployment benefits.
xxxKirstyMacC Local time: 02:47 Native speaker of: English PRO pts in category: 13