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attivita finanziarie che non costituiscono immobilizzazioni

English translation: financial assets which do not constitute fixed assets

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:attivita finanziarie che non costituiscono immobilizzazioni
English translation:financial assets which do not constitute fixed assets
Entered by: transwebtrans
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14:24 Oct 25, 2007
Italian to English translations [PRO]
Bus/Financial - Finance (general)
Italian term or phrase: attivita finanziarie che non costituiscono immobilizzazioni
I'm a bit perplexed as from my research "attivita finanziarie" means "financial assets" and "immobilizzazioni" also means assets... Is there another way of translating this that would make the sentence non-paradoxical?! Any suggestions much appreciated!
transwebtrans
Local time: 18:21
financial assets which do not constitute fixed assets
Explanation:
This is very probably the trading portfolio of a bank. The author is mixing the terminology of the old Italian accounting standards (immobilizzazione) with then new IFRS (attività finanziaria). Normally and asset is "current" if it lasts less than 12 months. and "non current" or fixed if it lasts more than that. Banks make an exception to that rule with the trading securities (shares and bonds) that they hold, because they although they often hold them for longer than one year, they form part of their operations like the fish of a fish monger or the car of a car manufacture. They are not used to produce other things.

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Note added at 38 mins (2007-10-25 15:03:05 GMT) Post-grading
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If a parent company decides to sell a company it owns, that company which for years has been an immobilizzazione/fixed asset/non current asset becomes a current asset an therefore no longer constitutes a fixed assets just as soon as it becomes "available for sale" because it probably won't last the year out.

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Note added at 41 mins (2007-10-25 15:05:36 GMT) Post-grading
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The financial asset which is available for sale is also referred to as a "discontinued activity", just to make things really difficult.

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Note added at 15 hrs (2007-10-26 06:02:52 GMT) Post-grading
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Glad somebody else is watching Peter. I agree on the fixed assets now being called "non current assets" under IAS, but the Italian uses the old Italian GAPP term, so I used the old UK Gaap term too. If I understand your count 1, put simply "financial assets that do not constitute 'non current assets'" are just simply "current financial assets". I agree fully, but can you find me an Italian client that will accept that translation from me?

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Note added at 26 days (2007-11-21 07:00:35 GMT) Post-grading
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Hi Peter, Hi Paul,
I remember the first time I ever saw this before IAS came to Italy and I thought, "Why an earth don't they just say ' current assets'?". My client, following its major competitors, and therefore the standard convention refused to accept that, so I looked at my bottom line and followed my client's orders. This answer followed that habit.
Having said that, I find that it is not used in Italian as a general rule for current assets, but only where there is a reason to assume that the assets would be 'non current'. So in that respect a mere 'non current assets' is insufficient. Depending on the context "held for disposal" or "available for sale" might be more appropriate". And again "immobilizazzioni" is old Italian GAAP *not Italian IAS* and it is arguable whether the translator should *correct* the Italian author.
Selected response from:

James (Jim) Davis
Seychelles
Local time: 21:21
Grading comment
Thanks very much Jim. A great help.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 -2financial assets which do not constitute fixed assets
James (Jim) Davis


Discussion entries: 1





  

Answers


20 mins   confidence: Answerer confidence 5/5 peer agreement (net): -2
financial assets which do not constitute fixed assets


Explanation:
This is very probably the trading portfolio of a bank. The author is mixing the terminology of the old Italian accounting standards (immobilizzazione) with then new IFRS (attività finanziaria). Normally and asset is "current" if it lasts less than 12 months. and "non current" or fixed if it lasts more than that. Banks make an exception to that rule with the trading securities (shares and bonds) that they hold, because they although they often hold them for longer than one year, they form part of their operations like the fish of a fish monger or the car of a car manufacture. They are not used to produce other things.

--------------------------------------------------
Note added at 38 mins (2007-10-25 15:03:05 GMT) Post-grading
--------------------------------------------------

If a parent company decides to sell a company it owns, that company which for years has been an immobilizzazione/fixed asset/non current asset becomes a current asset an therefore no longer constitutes a fixed assets just as soon as it becomes "available for sale" because it probably won't last the year out.

--------------------------------------------------
Note added at 41 mins (2007-10-25 15:05:36 GMT) Post-grading
--------------------------------------------------

The financial asset which is available for sale is also referred to as a "discontinued activity", just to make things really difficult.

--------------------------------------------------
Note added at 15 hrs (2007-10-26 06:02:52 GMT) Post-grading
--------------------------------------------------

Glad somebody else is watching Peter. I agree on the fixed assets now being called "non current assets" under IAS, but the Italian uses the old Italian GAPP term, so I used the old UK Gaap term too. If I understand your count 1, put simply "financial assets that do not constitute 'non current assets'" are just simply "current financial assets". I agree fully, but can you find me an Italian client that will accept that translation from me?

--------------------------------------------------
Note added at 26 days (2007-11-21 07:00:35 GMT) Post-grading
--------------------------------------------------

Hi Peter, Hi Paul,
I remember the first time I ever saw this before IAS came to Italy and I thought, "Why an earth don't they just say ' current assets'?". My client, following its major competitors, and therefore the standard convention refused to accept that, so I looked at my bottom line and followed my client's orders. This answer followed that habit.
Having said that, I find that it is not used in Italian as a general rule for current assets, but only where there is a reason to assume that the assets would be 'non current'. So in that respect a mere 'non current assets' is insufficient. Depending on the context "held for disposal" or "available for sale" might be more appropriate". And again "immobilizazzioni" is old Italian GAAP *not Italian IAS* and it is arguable whether the translator should *correct* the Italian author.

James (Jim) Davis
Seychelles
Local time: 21:21
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4482
Grading comment
Thanks very much Jim. A great help.

Peer comments on this answer (and responses from the answerer)
neutral  Paul O'Brien: cos i was going to suggest: financial activities which do not constitute asset lock up.
6 mins
  -> Cos they're share and bond certificates. It s a fair question though, only the context can tell you which is the correct translation.

disagree  Peter Cox: Sorry Jim, but I disagree on two counts. 1. The simple title here is "current assets"; 2. Fixed assets are now called "non-current assets"
14 hrs

disagree  xxxDCypher: current financial assets: agree with Peter's comment
26 days
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