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Revenue-adjusted

Polish translation: skorygowany przychód z pracy w toku

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Revenue-adjusted
Polish translation:skorygowany przychód z pracy w toku
Entered by: Frank Szmulowicz, Ph. D.
Options:
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09:49 Feb 16, 2018
English to Polish translations [PRO]
Bus/Financial - SAP
English term or phrase: Revenue-adjusted
Proszę o pomoc w tłumaczeniu zwrotu "WIP Revenue-adjusted (LCY)"

WIP to "Praca w toku".

Niestety, brak szerszego kontekstu.
lucypl
Poland
Local time: 01:19
skorygowany przychód z pracy w toku
Explanation:
Revenue is przychód.
Most likely, it is the revenue that is adjusted.
cccccccccccccccccccc
Contract Revenues are tied to Costs, but Billings on Contracts are not always tied to Costs. Sometimes elements of a contract are billed in advance or sometimes they are delayed by mutual agreement (or disagreement). This mismatch between actual billed revenue and earned revenue will require an adjusting entry but since the Percentage of Completion method adjusts billed revenue to reflect earned revenue, billings are posted to revenues and adjusted later to reflect the correct earned revenue amount. (Debit Accounts Receivable, Credit Sales).
http://www.accountingunplugged.com/2008/09/11/percentage-of-...
cccccccccccccccccccccccccccccccccccccccccc

Making a WIP Adjustment
Once you know the amounts that you are over- or under-billed, the next step is to post a WIP adjustment. This will enable you to utilize the matching principal — or in other words, to match your income and expenses to the same period of time — and produce an accurate monthly P&L.
Following are the steps for posting over- and under-billings

Make sure the contract amount and the job status are correct
Make sure a budget has been entered
Make sure all change orders have been posted and have the correct status
Run the Over/Under Billings report for projects with current status with the correct posting period selected
Post the over/under billing adjustment using the correct date and posting period Note: WIP adjustments are typically “reversed in next period”
https://on-trackinc.com/work-in-process/

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At the end of the accounting period, an adjusting journal entry must be prepared to adjust the revenue recognized on jobs that are in progress based upon the estimated percentage of job completion as of that date. That journal entry is reversed on the first day of the next reporting period.
https://www.probuilder.com/how-use-percentage-completion-acc...
Selected response from:

Frank Szmulowicz, Ph. D.
United States
Local time: 19:19
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5dostosowany do przychodu
Hanna Swaryczewska
3 +1produkcja w toku skorygowana o zysk (lokalna waluta)
Artur Ciszek
2 +1skorygowany przychód z pracy w toku
Frank Szmulowicz, Ph. D.


  

Answers


52 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
revenue-adjusted
produkcja w toku skorygowana o zysk (lokalna waluta)


Explanation:
propozycja

Artur Ciszek
Local time: 01:19
Native speaker of: Native in PolishPolish

Peer comments on this answer (and responses from the answerer)
agree  Hanna Swaryczewska: praca w toku [kwota] dostosowana do przychodu (waluta lokalna)
23 days
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19 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +1
revenue-adjusted
skorygowany przychód z pracy w toku


Explanation:
Revenue is przychód.
Most likely, it is the revenue that is adjusted.
cccccccccccccccccccc
Contract Revenues are tied to Costs, but Billings on Contracts are not always tied to Costs. Sometimes elements of a contract are billed in advance or sometimes they are delayed by mutual agreement (or disagreement). This mismatch between actual billed revenue and earned revenue will require an adjusting entry but since the Percentage of Completion method adjusts billed revenue to reflect earned revenue, billings are posted to revenues and adjusted later to reflect the correct earned revenue amount. (Debit Accounts Receivable, Credit Sales).
http://www.accountingunplugged.com/2008/09/11/percentage-of-...
cccccccccccccccccccccccccccccccccccccccccc

Making a WIP Adjustment
Once you know the amounts that you are over- or under-billed, the next step is to post a WIP adjustment. This will enable you to utilize the matching principal — or in other words, to match your income and expenses to the same period of time — and produce an accurate monthly P&L.
Following are the steps for posting over- and under-billings

Make sure the contract amount and the job status are correct
Make sure a budget has been entered
Make sure all change orders have been posted and have the correct status
Run the Over/Under Billings report for projects with current status with the correct posting period selected
Post the over/under billing adjustment using the correct date and posting period Note: WIP adjustments are typically “reversed in next period”
https://on-trackinc.com/work-in-process/

cccccc
At the end of the accounting period, an adjusting journal entry must be prepared to adjust the revenue recognized on jobs that are in progress based upon the estimated percentage of job completion as of that date. That journal entry is reversed on the first day of the next reporting period.
https://www.probuilder.com/how-use-percentage-completion-acc...

Frank Szmulowicz, Ph. D.
United States
Local time: 19:19
Native speaker of: Native in EnglishEnglish, Native in PolishPolish
PRO pts in category: 44

Peer comments on this answer (and responses from the answerer)
agree  Roman Kozierkiewicz
1 day 52 mins
  -> Dziękuję Romanie. Serdecznie pozdrawiam i życzę wspaniałej niedzieli.
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23 days   confidence: Answerer confidence 5/5
revenue-adjusted
dostosowany do przychodu


Explanation:
Podobnie jak w złożeniach sugar-free (wolny od cukru), computer-aided (wspomagany komputerowo) powyższe złożenie określa relację rzeczownika i przymiotnika, gdzie przymiotnik określa poprzedzający rzeczownik. Revenue oznacza przychód (podany odnośnik w słowniku Merriam-Webster). Poniżej podane również zdanie z użyciem słowa risk (ryzyko), w analogicznym związku syntaktycznym. Myślnik w oryginale dodany jest dla uwidocznienia związku słów revenue i adjusted w wąskim kontekście podanego fragmentu, utrzymanego w bardzo zwięzłej formie.

Example sentence(s):
  • Passenger revenue adjusted for currency and nonrecurring items: increased by 3.0 (Linguee)
  • Risk-adjusted return refines an investment's return by measuring how much risk is involved in producing that return, which is generally expressed as a number or rating. Read more: Risk-Adjusted Return https://www.investopedia.com/terms/r/riskadjustedret

    https://www.merriam-webster.com/dictionary/revenue?src=search-dict-box
    https://www.linguee.com/english-polish/search?source=auto&query=revenue-adjusted
Hanna Swaryczewska
Poland
Local time: 01:19
Native speaker of: Native in PolishPolish
Login to enter a peer comment (or grade)




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Changes made by editors
Feb 22 - Changes made by Frank Szmulowicz, Ph. D.:
Created KOG entryKudoZ term » KOG term


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