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Bus/Financial - Accounting / report on financing of an airport in Italy | | Italian term or phrase: rilascio di risconti passivi | | I keep coming across this term in a balance sheet. "I risultati non includono il rilascio annuale dei risconti passivi". Thanks to entries in ProZ, I understand that risconti passivi can be translated as deferred income but what do they mean by "rilascio"? And, more importantly, how can I translate it in this context? Thanks very much for any help offered. |
| | | English translation:release of deferred liabilities | Explanation:
Hi Sue. You've already posted this once, and I've already answered. Clearly you were quite rightly waiting for more people to answer. Anyway here is my answer again. Deferred income is when you get paid and haven't yet done the work. This is a liability, because if you don't do the work (or deliver the goods) you should pay the money back. When you have done the work, the liability is released and you can record that amount in your account as an asset, as a profit, as income not deferred but earned.
Hopefully others will come along to offer alternative translations or more agrees.
http://www.proz.com/kudoz/italian_to_english/accounting/4474...
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Note added at 1 day22 hrs (2011-08-16 17:02:23 GMT) Post-grading
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Not to worry about the delay Sue, I often leave my own questions up for weeks. Cristiana is right "deferred income" is probably better (IAS 20). A government grant is not the usual case . |
| Selected response from:
James (Jim) Davis
Italy
Local time: 04:52
| Grading comment Thanks again, Jim - sorry for delay but wasn't notified about your answer.
4 KudoZ points were awarded for this answer |
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| Summary of reference entries provided | | EleoE |
| Discussion entries: 0 |
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Automatic update in 00:
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12 mins confidence:   peer agreement (net): +3 | rilascio (di risconti passivi) release of deferred liabilities
Explanation:
Hi Sue. You've already posted this once, and I've already answered. Clearly you were quite rightly waiting for more people to answer. Anyway here is my answer again. Deferred income is when you get paid and haven't yet done the work. This is a liability, because if you don't do the work (or deliver the goods) you should pay the money back. When you have done the work, the liability is released and you can record that amount in your account as an asset, as a profit, as income not deferred but earned.
Hopefully others will come along to offer alternative translations or more agrees.
http://www.proz.com/kudoz/italian_to_english/accounting/4474...
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Note added at 1 day22 hrs (2011-08-16 17:02:23 GMT) Post-grading
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Not to worry about the delay Sue, I often leave my own questions up for weeks. Cristiana is right "deferred income" is probably better (IAS 20). A government grant is not the usual case .
| James (Jim) Davis
Italy
Local time: 04:52
Specializes in field
Native speaker of:  English
PRO pts in category: 985
|
| | Grading comment Thanks again, Jim - sorry for delay but wasn't notified about your answer.
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The translation workplace 
