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Provisión por valuación

English translation: Valuation allowance

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Provisión por valuación
English translation:Valuation allowance
Entered by: maca12
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21:23 Feb 19, 2005
Spanish to English translations [PRO]
Bus/Financial - Accounting / Financial Statements
Spanish term or phrase: Provisión por valuación
Es un rubro de Existencias en un estado financiero y corresponde al efecto de las valorizaciones de mercado efectuadas por peritos.

La empresa usa "allowance" para cuentas del activo y "provision" para cuentas del pasivo:
e.g. Allowance for impairment of long-lived assets but provision for severance indemnities.
maca12
Local time: 15:39
Valuation allowance
Explanation:
it's an asset here right? In any case, it's valuation...


Policy on Allowances for Valuation of Assets and Liabilities. ... Amounts that are doubtful or uncollectible are to be included in the related valuation allowance. ...
www.tbs-sct.gc.ca/Pubs_pol/dcgpubs/TBM_142/4-6-1_e.asp - 30k - Cached - Similar pages

Selected response from:

Jane Lamb-Ruiz
Grading comment
It is just what I needed. Thank you so much.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1Valuation allowance / Valuation provision
Richard Cadena
5 +1Valuation allowanceJane Lamb-Ruiz


  

Answers


15 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
Provisión por valuación
Valuation allowance


Explanation:
it's an asset here right? In any case, it's valuation...


Policy on Allowances for Valuation of Assets and Liabilities. ... Amounts that are doubtful or uncollectible are to be included in the related valuation allowance. ...
www.tbs-sct.gc.ca/Pubs_pol/dcgpubs/TBM_142/4-6-1_e.asp - 30k - Cached - Similar pages



Jane Lamb-Ruiz
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 133
Grading comment
It is just what I needed. Thank you so much.

Peer comments on this answer (and responses from the answerer)
agree  Egmont
17 mins
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26 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
Valuation allowance / Valuation provision


Explanation:
Basically, allowances are used with assets and provisions with liabiities. However, I have seen "provision for doubtful accounts" instead of "allowance for doubtful accounts" in various editions of "Accounting & Trends and Techniques" published annually by the AICPA. I asked a partner at Grant Thornton - Mexico to explain the difference to me in this case. He said that if no money is actually spent/disbursed, allowance is the correct term. However, if any money is actually spent/disbursed in that same case, provision is the correct term to use, even though an asset is involved. I suggest checking in with your client to see if any money was actually spent/disbursed in this case.
Reference: Accounting Trends & Techniques published annually by the AICPA, and the explanation given to me by the Grant Thornton - Mexico partner.
Hope this helps.
16 years of experience translating for Mexico City based member firms of international public accounting firms, and other financial entities (banks, etc.)



    Reference: http://aicpa.org
    Reference: http://imcp.org.mx
Richard Cadena
Mexico
Local time: 15:39
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 650

Peer comments on this answer (and responses from the answerer)
agree  Egmont
7 mins
  -> Muchas gracias, AVRVM. Saludos desde la Ciudad de México, Richard
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