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Sicherstellung der Mengennachweise im Abschluss (Inventar)

English translation: Year-End Inventory Count

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Sicherstellung der Mengennachweise im Abschluss (Inventar)
English translation:Year-End Inventory Count
Entered by: William Stein
Options:
- Contribute to this entry
- Include in personal glossary

13:49 Jul 5, 2003
German to English translations [PRO]
Bus/Financial / GAAP. inventory, accounting
German term or phrase: Sicherstellung der Mengennachweise im Abschluss (Inventar)
This is from a book of accounting guidelines that is supposed to bring a German group's accounting practices in line with US GAAP:

Sicherstellung der Mengennachweise im Abschluss (Inventar)

Die Ermittlung der Bestände an Vermögens- und Schuldposten und deren Aufzeichnungen in einem Inventar hat nach konzerneinheitlichen Regelungen zu erfolgen, die in einer Inventuranweisung dargestellt werden. Generell sind folgende Punkte zu beachten:

Nachweis des Anlagevermögens in einem Anlagenverzeichnis; körperliche Aufnahme
- Inventur der Vorräte (Stichtag, permanent, Belegaufnahme etc.); Nachweis im Inventar
- Saldenabstimmung bei Forderungen und Verbindlichkeiten;
- Einholen von Bankbestätigungen,
- Bestätigungen von Anwälten.
- Vorkehrung zur lückenlosen Erfassung aller Verbindlichkeiten.
William Stein
Costa Rica
Local time: 03:16
verification will do
Explanation:
of inventory

7450 - INVENTORY PROCEDURE
... for the Corporation to meet requirements for preparing GAAP (Generally Accepted ... to
the State Auditors for observation and verification of the inventory. ...
www.neola.com/huntington-in/ag/ag7450.htm

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Note added at 2003-07-05 17:36:35 (GMT)
--------------------------------------------------

of year-end inventory
Selected response from:

Maureen Holm, J.D., LL.M.
United States
Local time: 05:16
Grading comment
2 KudoZ points were awarded for this answer

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Summary of answers provided
4securing quantity count at closing (of accounts)
swisstell
4verification will do
Maureen Holm, J.D., LL.M.
3ascertaining quantity verification in the financial statement (inventory)
Kim Metzger


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
securing quantity count at closing (of accounts)


Explanation:
keep it brief and understandable

swisstell
Italy
Local time: 11:16
Native speaker of: German
PRO pts in pair: 3377
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
ascertaining quantity verification in the financial statement (inventory)


Explanation:
Inventory quantity verification
• Quantity verification of inventory is not documented.
• Consideration of all locations and inventory categories when selecting the sample for verification is not documented.
• Linking of the observation test counts to the final inventory listing is not documented.
• Resolution of the differences in quantity tests is not documented.



    Reference: http://www.paab.co.za/Practice/Practice-N01h.html
Kim Metzger
Mexico
Local time: 04:16
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 21829
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
verification will do


Explanation:
of inventory

7450 - INVENTORY PROCEDURE
... for the Corporation to meet requirements for preparing GAAP (Generally Accepted ... to
the State Auditors for observation and verification of the inventory. ...
www.neola.com/huntington-in/ag/ag7450.htm

--------------------------------------------------
Note added at 2003-07-05 17:36:35 (GMT)
--------------------------------------------------

of year-end inventory

Maureen Holm, J.D., LL.M.
United States
Local time: 05:16
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 986
Login to enter a peer comment (or grade)




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