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قفلية

English translation: leasehold transfer

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Arabic term or phrase:قفلية
English translation:leasehold transfer
Entered by: William Tierney
Options:
- Contribute to this entry
- Include in personal glossary

14:53 Nov 3, 2007
Arabic to English translations [PRO]
Bus/Financial - Finance (general)
Arabic term or phrase: قفلية
This term occurs in the list of assets in an audit report. It appears to be a fixed asset and related to real estate, according to its usage in other contexts. It also appears in the phrase "اطفاء القفلية" as an expense, where I believe it means "amortization of real estate." The document comes from Kuwait.
William Tierney
Local time: 03:04
key money
Explanation:
Thats a daily stuff for me.
اطفاء القفلية = amortization of key money

HTH

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Note added at 1 hr (2007-11-03 16:13:37 GMT)
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My answer is based on my experience in auditing firms in Kuwait such as Ernst & Young and KPMG.

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Note added at 1 hr (2007-11-03 16:19:45 GMT)
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Some Arab countries use قفلية and others use خلو. Maybe there are other Arabic versions.

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Note added at 1 hr (2007-11-03 16:30:38 GMT) Post-grading
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You are welcome William, you can always update the glossary through: http://www.arablish.com/download/english-arabic-auditing-glo...
Selected response from:

ahmadwadan.com
Kuwait
Local time: 10:04
Grading comment
Thank you Ahmed for your quick response. I also want to pass along my thanks for your auditing glossary available on Babylon.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2key money
ahmadwadan.com


  

Answers


1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +2
key money


Explanation:
Thats a daily stuff for me.
اطفاء القفلية = amortization of key money

HTH

--------------------------------------------------
Note added at 1 hr (2007-11-03 16:13:37 GMT)
--------------------------------------------------

My answer is based on my experience in auditing firms in Kuwait such as Ernst & Young and KPMG.

--------------------------------------------------
Note added at 1 hr (2007-11-03 16:19:45 GMT)
--------------------------------------------------

Some Arab countries use قفلية and others use خلو. Maybe there are other Arabic versions.

--------------------------------------------------
Note added at 1 hr (2007-11-03 16:30:38 GMT) Post-grading
--------------------------------------------------

You are welcome William, you can always update the glossary through: http://www.arablish.com/download/english-arabic-auditing-glo...

ahmadwadan.com
Kuwait
Local time: 10:04
Works in field
Native speaker of: Arabic
PRO pts in category: 68
Grading comment
Thank you Ahmed for your quick response. I also want to pass along my thanks for your auditing glossary available on Babylon.
Notes to answerer
Asker: Ahmed, I found the same term later in the document where "key money" did not fit the context. The term "leasehold premium" as used in http://www.leespharm.com/en/download_file/download_148.pdf and http://www.iasplus.com/dttpubs/uk_fra.pdf, where "leasehold premium" represents a depcreciating expense.


Peer comments on this answer (and responses from the answerer)
agree  Samya Salem
46 mins

agree  Ammar Mahmood
15 hrs
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Changes made by editors
Nov 4, 2007 - Changes made by William Tierney:
Edited KOG entry<a href="/profile/99362">ahmadwadan.com's</a> old entry - "قفلية" » "key money"
Nov 3, 2007 - Changes made by ahmadwadan.com:
Edited KOG entry<a href="/profile/36384">William Tierney's</a> old entry - "قفلية" » "key money"


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