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criterio di competenza economica

English translation: on an accruals basis


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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:criterio di competenza economica
English translation:on an accruals basis
Entered by: Anthony Green
Options:
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21:05 Nov 9, 2007
Italian to English translations [PRO]
Bus/Financial - Accounting
Italian term or phrase: criterio di competenza economica
un contributo in conto impianti di circa X euro, incassati nell’esercizio per Y euro) contabilizzati secondo il **criterio di competenza economica**, registrati tra i risconti passivi ed accreditati a conto economico tra gli “altri ricavi e proventi” (voce A5 ) per la quota di competenza dell’esercizio in correlazione alla entrata in attività degli impianti per i quali è stato concesso il contributo"

Again, is there a technical term for this?
Anthony Green
Italy
Local time: 04:49
on an accruals basis
Explanation:
This is how I normally translate this. Wiki explains it in the link below, and there are good discussions of it in the glossary somewhere as Gray says.
Having just paid a lot of tax, income tax in Italy is paid on a cash basis, according to the date of payment that is, while VAT is paid on an accruals basis on according to the date of the invoice which should be written as the work is completed.
Selected response from:

James (Jim) Davis
Italy
Local time: 04:49
Grading comment
nobody seemed to want these points! ;) Thanks everyone !
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3on an accruals basis
James (Jim) Davis


Discussion entries: 2





  

Answers


9 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +3
on an accruals basis


Explanation:
This is how I normally translate this. Wiki explains it in the link below, and there are good discussions of it in the glossary somewhere as Gray says.
Having just paid a lot of tax, income tax in Italy is paid on a cash basis, according to the date of payment that is, while VAT is paid on an accruals basis on according to the date of the invoice which should be written as the work is completed.


    Reference: http://en.wikipedia.org/wiki/Accounting_methods
James (Jim) Davis
Italy
Local time: 04:49
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 985
Grading comment
nobody seemed to want these points! ;) Thanks everyone !

Peer comments on this answer (and responses from the answerer)
agree  Silvia Casale: Sì, certo.. chissà perchè Assiolo non ha dato lei la risposta! // :D :D
4 hrs
  -> Se dovessi basarmi sul Garzanti, esiterei anch'io a rispondere. E Grey che non vuole i punti, e io mi fido di lui più di me stesso in questo campo :-)
agree  Giovanni Pizzati
8 hrs
agree  Grey Drane: I left the points for you, buddy! ;-)
14 hrs
  -> I thought so :))
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