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rente de survaleur

English translation: return on goodwill

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:rente de survaleur
English translation:return on goodwill
Entered by: Stephanie Mitchel
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17:18 Dec 11, 2010
French to English translations [PRO]
Bus/Financial - Accounting / annual accounts
French term or phrase: rente de survaleur
From the notes to the annual accounts:

"A titre de recoupement, il a été vérifié que :

La valeur consolidée du groupe établie par l'actualisation des cash flows est égale à la somme des valorisations des deux branches activité que constituent X et Y et réalisées par la méthode de la rente de survaleur.

La valeur d'entreprise qui résulte du calcul de rente de survaleur est compatible avec les multiples boursiers des plus proches sociétés comparables."
Stephanie Mitchel
United States
Local time: 01:59
return on goodwill
Explanation:
Also called the method of "capitalized excess earnings", but the excess in question is imputed to goodwill recognized on the balance sheet, and the purpose of the exercise is to test or justify the carrying amount of goodwill as a component of aggregate value. The French term puts the emphasis on excess value rather than excess earnings, so why not use the equivalent analogue in English.

For a worked-out example of the calculation (see Dossier 2):
http://intec.cnam.fr/app/ressourcespedagogiques/SujetsExamen...
Selected response from:

rkillings
United States
Local time: 22:59
Grading comment
Thanks Bob!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3return on goodwillrkillings
5excess earnings
Diana Mihaela Popescu
4surplus on revaluationLouis Cyril P
3excess value rent
La Classe
3goodwill incomecc in nyc
3excess return
fourth


  

Answers


19 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
excess value rent


Explanation:
....

La Classe
Local time: 12:29
Works in field
Native speaker of: English
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29 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
excess return


Explanation:
see many refs

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Note added at 31 mins (2010-12-11 17:50:01 GMT)
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valued on the basis of an increase over expected return (P/E industry average)



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Note added at 36 mins (2010-12-11 17:55:10 GMT)
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and capitalised "superprofits" over and above expected returns

fourth
France
Local time: 07:59
Native speaker of: Native in EnglishEnglish
PRO pts in category: 96
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
return on goodwill


Explanation:
Also called the method of "capitalized excess earnings", but the excess in question is imputed to goodwill recognized on the balance sheet, and the purpose of the exercise is to test or justify the carrying amount of goodwill as a component of aggregate value. The French term puts the emphasis on excess value rather than excess earnings, so why not use the equivalent analogue in English.

For a worked-out example of the calculation (see Dossier 2):
http://intec.cnam.fr/app/ressourcespedagogiques/SujetsExamen...

rkillings
United States
Local time: 22:59
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 393
Grading comment
Thanks Bob!

Peer comments on this answer (and responses from the answerer)
agree  mohanv: http://pierrelafitte.files.wordpress.com/2009/12/mfe-final-p...
8 hrs

agree  Rob Grayson: Good explanation
12 hrs

agree  xxxAdrian MM.
13 hrs

neutral  fourth: Not heard of it."Capitalised excess earnings" are "capitalised superprofits" or "excess return"
21 hrs
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
surplus on revaluation


Explanation:
Please refer to
http://en.wikipedia.org/wiki/Revaluation_of_fixed_assets
http://dictionary.reverso.net/business-english-french/surplu...

Louis Cyril P
Local time: 10:59
Native speaker of: Native in FrenchFrench

Peer comments on this answer (and responses from the answerer)
neutral  rkillings: Actually, it's not the surplus (a stock quantity) but the excess return (a flow quantity) on revalued net assets.
6 hrs
  -> Thanks but I am referring to surplus resulting from a revaluation of assets. Pls see abovementioned links.
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4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
goodwill income


Explanation:
First reference: "In the previous year, the Group’s pre-tax profit of US$1.002 billion included a significant one-off goodwill income of US$59.3 million..."

Second reference: "2.4.2 The Simplified "Abbreviated Goodwill Income" Method or the Simplified UEC Method"


    Reference: http://asianbankingandfinance.net/retail-banking/news/public...
    Reference: http://books.google.com/books?id=ufcDEYNSXDwC&pg=PA34&dq=%22...
cc in nyc
Local time: 01:59
Native speaker of: English
PRO pts in category: 58

Peer comments on this answer (and responses from the answerer)
neutral  rkillings: This is specifying *which* of several available methods is used to measure goodwill income.
4 hrs
  -> Thank you for your comment.
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19 hrs   confidence: Answerer confidence 5/5
excess earnings


Explanation:
Rente de survaleur (RS) = Bénéfice net moyen pondéré - (La valeur de l'Actif Net Réévalué ANR hors fonds commercial x Taux normal de rémunération des capitaux)

Excess earnings (or earnings attributable to intangible assets, including goodwill) = Normalized net earnings - (Net tangible asset value x Reasonable rate of return on net tangible assets)

Alternatively, the following target translations are valid but less used:
- return on intangible assets
- return on goodwill (this is not quite correct in accounting terms, as in the Anglo-Saxon Accounting world, goodwill is just one component of the intangible assets, i.e., a component that arose after an acquisition of another company)
- average earnings attributable to intangible assets
- average earnings attributable to goodwill (same comment about goodwill)


    Reference: http://intec.cnam.fr/app/ressourcespedagogiques/SujetsExamen...
    Reference: http://books.google.fr/books?id=3tvuq6YArWQC&lpg=PA493&ots=f...
Diana Mihaela Popescu
France
Local time: 07:59
Specializes in field
Native speaker of: Native in RomanianRomanian, Native in EnglishEnglish
PRO pts in category: 4
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