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Hard close

Lithuanian translation: tarpinis (išankstinis) auditas

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Hard close
Lithuanian translation:tarpinis (išankstinis) auditas
Entered by: Ugne Vitkute
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09:25 Oct 31, 2007
English to Lithuanian translations [PRO]
Bus/Financial - Finance (general)
English term or phrase: Hard close
Terminas naudojamas finansinėje apskaitoje kaip "year hard close"
Skaiste
tarpinis (išankstinis) auditas
Explanation:
Some audits involve a 'hard close' or 'fast close' whereby certain substantive procedures can be performed before year-end. For example, if the year-end is 31st December, the hard close may provide the auditors with figures as at 30th November. The auditors would audit income/expense movements between 1st January and 30th November, so that after year end, it is only necessary for them to audit the December income/expense movements and the 31st December balance sheet. In some countries and accountancy firms these are known as 'rollforward' procedures.
Selected response from:

Ugne Vitkute
Lithuania
Local time: 15:45
Grading comment
3 KudoZ points were awarded for this answer

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Summary of answers provided
4galutinis ataskaitinio laikotarpio uždarymas
Jurate Janaviciute
3galutinis finansinių metų uždarymas, užbaigimas
Loreta Alechnaviciute Hoffmann
3tarpinis (išankstinis) auditasUgne Vitkute


  

Answers


18 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
hard close
tarpinis (išankstinis) auditas


Explanation:
Some audits involve a 'hard close' or 'fast close' whereby certain substantive procedures can be performed before year-end. For example, if the year-end is 31st December, the hard close may provide the auditors with figures as at 30th November. The auditors would audit income/expense movements between 1st January and 30th November, so that after year end, it is only necessary for them to audit the December income/expense movements and the 31st December balance sheet. In some countries and accountancy firms these are known as 'rollforward' procedures.


    Reference: http://en.wikipedia.org/wiki/Financial_audit
Ugne Vitkute
Lithuania
Local time: 15:45
Specializes in field
Native speaker of: Lithuanian
PRO pts in category: 31

Peer comments on this answer (and responses from the answerer)
neutral  Loreta Alechnaviciute Hoffmann: dėl išankstinio iš dalies sutinku, bet tarpiniu gali būti ir "soft close". Bet "close" tai nėra auditas, tai tam tikra atskaitomybės būsena, kuria remiasi auditas
38 mins
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34 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
hard close
galutinis finansinių metų uždarymas, užbaigimas


Explanation:
Vikipedija: Some audits involve a 'hard close' or 'fast close' whereby certain substantive procedures can be performed before year-end. For example, if the year-end is 31st December, the hard close may provide the auditors with figures as at 30th November. The auditors would audit income/expense movements between 1st January and 30th November, so that after year end, it is only necessary for them to audit the December income/expense movements and the 31st December balance sheet. In some countries and accountancy firms these are known as 'rollforward' procedures.

Loreta Alechnaviciute Hoffmann
Lithuania
Local time: 15:45
Native speaker of: Native in LithuanianLithuanian
PRO pts in category: 4
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
hard close
galutinis ataskaitinio laikotarpio uždarymas


Explanation:
„Hard close“ nuo „soft close“ skiriasi tuo, kad „soft close“ galima vėl atidaryti pastebėjus netikslumų, o po „hard close“ jokie keitimai negalimi. Todėl „hard close“ tinka vadinti galutiniu. Tokie rezultatai yra tinkami auditui.

„Hard close“ gali būti daromas keletą kartų per metus. Pvz., duotame wikipedijos pavyzdyje pasakojama apie lapkričio mėn. „hard close“, nors finansiniai metai baigiasi gruodžio 31d. Todėl „hard close“ bus nebūtinai finansinių metų uždarymas. Tiksliau, tai yra įmonės pasirinkto ataskaitinio laikotarpio uždarymas. (Laikotarpį, už kurį teikiama finansinė atskaitomybė, taip pat vadina „laikotarpiu“, „periodu“, bet oficialus pavadinimas yra „ataskaitinis laikotarpis“.)

hard close - galutinis ataskaitinio laikotarpio uždarymas
year hard close - galutinis finansinių metų uždarymas



    Reference: http://www.chain-sys.com/faq.shtml
    Reference: http://www.panevezys.aps.gov.lt/pava_sen/IU_BoAv_v1.2.pdf
Jurate Janaviciute
Luxembourg
Specializes in field
Native speaker of: Native in LithuanianLithuanian
PRO pts in category: 12
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Changes made by editors
Nov 5, 2007 - Changes made by Ugne Vitkute:
Created KOG entryKudoZ term » KOG term
Oct 31, 2007 - Changes made by diana bb:
LevelNon-PRO » PRO


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