Measuring translation memory system in financial terms
Thread poster: wingman1985
wingman1985
Local time: 18:07
English
Feb 15, 2014

I have been working with my current company as a translator for five years. It is not a translation services company but we are deciding to create a translation memeory system(or software) for our internal use. I am wondering if this system, if established, can be classified as a fixed asset. If so, is there a general guideline to account for this asset from being put into service to dispostion? Thanks.

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ATIL KAYHAN  Identity Verified
Turkey
Local time: 13:07
Member (2007)
Turkish to English
+ ...
Benefits? Feb 16, 2014

I have some serious reservations about the benefits of translation memory systems in general. For example, I have heard of some clients requesting monetary discounts for the repeats as given by the translation memory software. I believe you should define precisely the purpose behind using such a system before you actually start using it. I would not invest in a translation memory system if all it does is work against the translator society.

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Shirley Lao  Identity Verified
Taiwan
Member (2007)
English to Chinese
+ ...
Depreciation on fixed assets Feb 17, 2014

An asset that is not consumed or sold during the normal course of business, such as land, buildings, equipment, machinery, vehicles, leasehold improvements, and other such items.

Fixed assets enable their owner to carry on its operations. In accounting, fixed does not necessarily mean immovable; any asset expected to last, or be in use for, more than one year is considered a fixed asset. On a balance sheet, these assets are shown at their book value (purchase price less depreciation).
See: http://www.businessdictionary.com/definition/fixed-asset.html#ixzz2tXAlWPLl


As per the aforementioned definition of "fixed asset", this translation memory system for internal use should be deemed a fixed asset. You should consult an accountant familiar with China's accounting practices about the depreciation on fixed assets in China. There should be more than one method for calculating depreciation on fixed assets.





wingman1985 wrote:

I have been working with my current company as a translator for five years. It is not a translation services company but we are deciding to create a translation memeory system(or software) for our internal use. I am wondering if this system, if established, can be classified as a fixed asset. If so, is there a general guideline to account for this asset from being put into service to dispostion? Thanks.


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