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provizioane

English translation: provisions

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Romanian term or phrase:provizioane
English translation:provisions
Entered by: Maria Diaconu
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10:57 Dec 8, 2004
Romanian to English translations [PRO]
Bus/Financial - Accounting
Romanian term or phrase: provizioane
provizioane pentru riscuri si cheltuieli
pur
provisions
Explanation:



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Note added at 3 mins (2004-12-08 11:01:33 GMT)
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Provisions for risks and expenses

--------------------------------------------------
Note added at 6 mins (2004-12-08 11:04:08 GMT)
--------------------------------------------------

Glossary: Provisions


FR: Provisions
DE: Rückstellungen




Provisions are recorded as a reserve by the enterprise in order to hedge against risks incurred in its operating and financial activities.

One can distinguish between the following types of provisions:
- Provision for depreciation;
- Provisions for expenses to be allocated to more than one financial year: these are foreseeable expenses which cannot be fully borne during the financial year in which they are committed. E.g. provision to cover expenses for major repairs; the following conditions apply:
- purpose must be to cover major expenses which are not annual,
- may be regarded as current expenses for maintenance and repairs,
- must be scheduled, as soon as the asset is acquired by the company, according to the useful life of this asset in the light of the major repairs planned;
- Provisions for pensions: these are expenses which may be incurred as a result of legal or contractual obligations involving staff pension rights;
- Provisions for risks and expenses: these are evaluated at the balance sheet date and intended to cover risks and expenses that are likely to be incurred as a result of past or current events. Their purpose must be clearly stated, but it is not certain when they will need to be used.

The main financial effect of provisions is to reduce the profit of an enterprise for the financial year.

Note: The term \"Provisions\" is also used in the context of the provision of services which is a synonym for the supply of services.


Source:
Eurostat

http://forum.europa.eu.int/irc/dsis/coded/info/data/coded/en...
Selected response from:

Maria Diaconu
Romania
Local time: 03:13
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +8provisions
Maria Diaconu


  

Answers


3 mins   confidence: Answerer confidence 5/5 peer agreement (net): +8
provisions


Explanation:



--------------------------------------------------
Note added at 3 mins (2004-12-08 11:01:33 GMT)
--------------------------------------------------

Provisions for risks and expenses

--------------------------------------------------
Note added at 6 mins (2004-12-08 11:04:08 GMT)
--------------------------------------------------

Glossary: Provisions


FR: Provisions
DE: Rückstellungen




Provisions are recorded as a reserve by the enterprise in order to hedge against risks incurred in its operating and financial activities.

One can distinguish between the following types of provisions:
- Provision for depreciation;
- Provisions for expenses to be allocated to more than one financial year: these are foreseeable expenses which cannot be fully borne during the financial year in which they are committed. E.g. provision to cover expenses for major repairs; the following conditions apply:
- purpose must be to cover major expenses which are not annual,
- may be regarded as current expenses for maintenance and repairs,
- must be scheduled, as soon as the asset is acquired by the company, according to the useful life of this asset in the light of the major repairs planned;
- Provisions for pensions: these are expenses which may be incurred as a result of legal or contractual obligations involving staff pension rights;
- Provisions for risks and expenses: these are evaluated at the balance sheet date and intended to cover risks and expenses that are likely to be incurred as a result of past or current events. Their purpose must be clearly stated, but it is not certain when they will need to be used.

The main financial effect of provisions is to reduce the profit of an enterprise for the financial year.

Note: The term \"Provisions\" is also used in the context of the provision of services which is a synonym for the supply of services.


Source:
Eurostat

http://forum.europa.eu.int/irc/dsis/coded/info/data/coded/en...

Maria Diaconu
Romania
Local time: 03:13
Native speaker of: Native in RomanianRomanian
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
agree  rodi
3 mins
  -> Multumesc

agree  elenus
10 mins
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agree  Hezy Mor
10 mins
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agree  Lydia Molea
11 mins
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agree  xxxKirstyMacC
1 hr
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agree  Florin Hulubei
2 hrs
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agree  Cristina Moldovan do Amaral
12 hrs
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agree  xxxeVerbum
22 hrs
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