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Russian to English translations [PRO]
Bus/Financial - Accounting | | Russian term or phrase: имущественная обособленность | Исторически в России ключевым признаком для признания активов в бухгалтерской отчетности являлось право собственности на имущество (Юридическая собственность). Данное правило ИМУЩЕСТВЕННОЙ ОБОСОБЛЕННОСТИ закреплено на уровне законодательства по бухгалтерскому учету... Это правило вступает в противоречие с требованиями международных стандартов, которые основываются на праве "экономической собственности" и приоритете содержания перед формой.
This is an editing job, and the original translation has 'material isolation', but I cannot trace any term like this in English-language usage. |
|  John SowerbyKudoZ activityQuestions: 275 (none open) ( 3 closed without grading) Answers: 27
| Local time: 16:08
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| | Property autonomy | Explanation:
имущественная обособленность means that the company (broadly speaking - an entity) has ownership rights to its assets (and nobody else has claim or partial ownership in assets fully owned by the company) and is responsible for settlement of its liabilities using its property (and nobody else has an obligation to repay the entity's debts etc.)
Example would be two cattle farmers using the same meadow for grazing their respective herds of cattle: cattle is owned by each farmer, while the meadow is in common usage (and if the meadow needs to be fenced or cultivated - the exact distribution of costs and effors required to do that will be the subject of heated discussion between the two farmers).
The idea of the passage: in various cases of modern-day asset financing (e.g. a textbook example - a long-term capital lease) an asset is technically owned by the lessor, but de-facto owned by lessee who is getting all benefit from the asset for the full duration of its useful life.
In Russia it is difficult to recognize transfer of ownership based on this vague concept of "benefit-getting" etc. Thus Russian accounting is very much form over substance (and the global trend is, of course, an opposite one: substance over form).
You can use the "property autonomy" term - it is fairly arcane or so it sounds to me - but it covers the essence of the term.
My two kopecks' worth - hope it helps.
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Note added at 1 hr 13 mins (2005-04-07 17:31:33 GMT)
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By the way, for similar arcane Soviet-style terms you can try Multitran, a great online glossary:
www.multitran.ru
I have purchased a CD-ROM version for offline use - it is just superb. |
| Selected response from:
Victor Potapov
Russian Federation
Local time: 19:08
| Grading comment Thank you; and thank you to veryone else for their input.
3 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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7 mins confidence:  
1 hr confidence: peer agreement (net): +1 | имущественная обособленность Property autonomy
Explanation:
имущественная обособленность means that the company (broadly speaking - an entity) has ownership rights to its assets (and nobody else has claim or partial ownership in assets fully owned by the company) and is responsible for settlement of its liabilities using its property (and nobody else has an obligation to repay the entity's debts etc.)
Example would be two cattle farmers using the same meadow for grazing their respective herds of cattle: cattle is owned by each farmer, while the meadow is in common usage (and if the meadow needs to be fenced or cultivated - the exact distribution of costs and effors required to do that will be the subject of heated discussion between the two farmers).
The idea of the passage: in various cases of modern-day asset financing (e.g. a textbook example - a long-term capital lease) an asset is technically owned by the lessor, but de-facto owned by lessee who is getting all benefit from the asset for the full duration of its useful life.
In Russia it is difficult to recognize transfer of ownership based on this vague concept of "benefit-getting" etc. Thus Russian accounting is very much form over substance (and the global trend is, of course, an opposite one: substance over form).
You can use the "property autonomy" term - it is fairly arcane or so it sounds to me - but it covers the essence of the term.
My two kopecks' worth - hope it helps.
--------------------------------------------------
Note added at 1 hr 13 mins (2005-04-07 17:31:33 GMT)
--------------------------------------------------
By the way, for similar arcane Soviet-style terms you can try Multitran, a great online glossary:
www.multitran.ru
I have purchased a CD-ROM version for offline use - it is just superb.
| Victor Potapov
Russian Federation
Local time: 19:08
Specializes in field
Native speaker of:  Russian
PRO pts in category: 55
|
| | Grading comment | Thank you; and thank you to veryone else for their input. |
|
| | Login to enter a peer comment (or grade) |
9 hrs confidence:
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