Арендованные основные средства, в том числе по лизингу
English translation: Leased fixed assets including fixed assets under long-term (capital, financial) leasing contracts
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Russian term or phrase:
Арендованные основные средства, в том числе по лизингу
English translation:
Leased fixed assets including fixed assets under long-term (capital, financial) leasing contracts
In Russian accounting & legal system (so comments by alex11 are extremely useful here) "лизинг" is used in roughly the meaning of capital, financial or long-term lease in the GAAP/IFRS context - i.e. to differentiate it from "operating" leases.
In straightforward terms: operating lease is when you take a thing, use it for a short period, return it and pay some money for the usage of it. The thing is, was and will be owned by the lessor.
financial (capital, long-term) lease is just another name for a purchase. For various reasons (working capital; balance sheet ratios; taxes - especially true in Russia) company will buy an asset - and hide it on somebody else's balance sheet while using the asset and making payments that are de-facto installment payments of the price of the asset - but de-jure are just "financial lease payments".
Exciting stuff, lease accounting!
:-)
Operating leases are expensed, capital leases are capitalized. You do not want me to go further down than that - suffice is to say that my years of experience in finance in Russia (plus my US accounting certification) seem to bear me out on this.
Re Tsogt remarks! It is so good you pointed that out - indeed it is unprofessional to use "ones" in any legal documents. Translator either should repeat wording with no hesitation, or say : mentioned above ...etc. Thank You ElenaM for conformation of my
fields it is always a challenge with words choice. I love it! And all colleagues here are very collaborative and highly knowledgeable and intelligent. Pleasure to work with. From a bottom of my heart I wish happy X-Mass and prosperous New Year to All!!!
To Sergey! Yes, all lawyers are liars BUT not in this case apparently....LoL.
And Thank you for pleasing my ego, I just finished/graduated Dec. 2005{finally} with my LL.M (Master of Laws) in International and Comparative Law.In Legal and Business field
I may be wrong but I believe from Russian perspective leased assets are those to be paid off over time versa rented is on a specific period and shorter then leased. Just a mess added longer before people new what means what in the business world.
07:57 Dec 20, 2005
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Answers
18 mins confidence: peer agreement (net): +5
Арендованные основные средства, в том числе по лизингу
Rented fixed assets including leased ones
Explanation: DOC] УТВЕРЖДЕН
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Rented fixed assets (001), 910, 1 247 550, 3 202 735. including leased ones, 911, 1 246 664, 3 201 849. Goods and material values accepted for storage under ... www.aeroflot.aero/eng/attach.asp?a_no=732
-------------------------------------------------- Note added at 1 hr 14 mins (2005-12-20 07:52:36 GMT) --------------------------------------------------
INTERMEDIATE CONSUMPTION (P.2)
3.69. Definition: Intermediate consumption consists of the value of the goods and services consumed as inputs by a process of production, excluding fixed assets whose consumption is recorded as consumption of fixed capital. The goods and services may be either transformed or used up by the production process.
3.70. Intermediate consumption includes the following borderline cases:
(a) the value of all the goods or services used as inputs into ancillary activities. Common examples are purchasing, sales, marketing, accounting, data processing, transportation, storage, maintenance, security, etc. These goods and services are not distinguished from those consumed by the principal (or secondary) activities of a local KAU;
(b) the value of goods and services which are received from another local KAU of the same institutional unit (only if they comply to the general definition in paragraph 3.69);
-------------------------------------------------- Note added at 1 hr 16 mins (2005-12-20 07:54:10 GMT) --------------------------------------------------
Financial Results of Uniforet Inc. for the Third Quarter of the ...... attributable expenses, these including depreciation of rented fixed assets. ... of leased fixed assets under the terms of the agreement with Katahdin. ... www.forrelease.com/D20041103/ mo298.P1.11032004174123.27437.html
Сергей Лузан Russian Federation Local time: 15:44 Native speaker of: Russian PRO pts in category: 16
The translation workplace 
peer agreement (net): +5
