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Holz-Mühle
Voraussetzung

Glossary entry

German term or phrase:

planmäßige Zuschreibung

English translation:

See discussion

Added to glossary by Damian Brandt
Jul 19, 2006 17:54
18 yrs ago
3 viewers *
German term

planmäßige Zuschreibung

German to English Bus/Financial Accounting non-current assets
I'm translating the local reporting forms that will be sent out to the accountants at all the local subsidiaries of a large multinational corporation. Basically, the accountants fill out the forms using the figures for their subsidiary and return it to the parent company at the end of the reporting period. (I'm sure there's a name for this, but I'm not looking it up right now).

Right now, I'm working on the schedule of changes to non-current assets, and have come across the term "Zuschreibung planm." It's the heading for one of the columns in the schedule, and is followed by "Zuschreibung ausserplanm." and is preceded by "Ausserplanm. Abschr. Lfd. GJ" and "Umbuchungen".

My question is: Is this even legal? I always thought you couldn't "schedule" reversals of impairment losses or write-ups to assets. However, I did find this link: http://www.national.ch/public/de/inv/058201_national_annual_... which mentions "planmässige Zuschreibungen", and its translation: http://www.national.ch/public/de/inv/nat_an_rep_05_e_ih_fina... which mentions "scheduled write-ups".

Does anyone know of any situations where this could happen? If so, what should I do with the translation?

(This company manufactures furniture, and doesn't deal in property or anything that appreciates inherently, by the way.)
Proposed translations (English)
4 scheduled write-ups
4 budgeted additions to fixed assets
3 -1 scheduled reports
Change log

Jul 19, 2006 18:44: Marcus Malabad changed "Term asked" from "planmäßige Zuschreibung (scheduled writeups)?" to "planmäßige Zuschreibung" , "Field (write-in)" from "Schedule of changes in non-current assets (Anlagenspiegel)" to "non-current assets"

Discussion

Damian Brandt (asker) Jul 22, 2006:
I think I'm going to have to take the Fifth on that question. :-)
RobinB Jul 21, 2006:
There's a lovely comment in today's FT (on an entirely different matter): "The customer is supposedly always right, but what if the customer in question is a moron?" :-)
RobinB Jul 21, 2006:
So, finally, recognising these asset revaluations in P&L is a direct violation of IFRS accounting principles, thus invalidating the entire IFRS accounts. The only effect under IFRSs might be changes to deferred tax assets/liabilities, and *nothing else*!!
RobinB Jul 21, 2006:
Next point: tax-driven asset adjustments could only conceivably result in asset revaluations recognised in the financial accounts in a system that allows "tax dictates accounting" (umgekehrte Maßgeblichkeit), e.g. German GAAP/HGB accounting.
RobinB Jul 21, 2006:
That is a load of utter crap. Firstly, these things can't be "planmäßig". Or do they deliberately understate the tax base of their assets so that they can revalue their assets every time the tax man has taken a look at their books?
Damian Brandt (asker) Jul 21, 2006:
Here's the response from the client: "Die Zuschreibungen beziehen sich lediglich auf Zuschreibungen im Rahmen einer Betriebsprüfung. Diese müssen immer vorgenommen werden, wenn dies im Rahmen einer Betriebsprüfung erforderlich ist, unabhängig vom Rechnungslegungsstandard." Oh, and everything is reported under IFRS.
Damian Brandt (asker) Jul 21, 2006:
From the Horse's Mouth
Damian Brandt (asker) Jul 20, 2006:
Yeah - the paper calls "planmäßige Zuschreibungen" "eine reichlich bizarre Vorstellung". I guess bizarre is the way to go if you need to get tenure, though.
Kieran McCann Jul 20, 2006:
oh, and just to confirm Robin's opinion of German accounting professors, here's a paper which does indeed use the term 'planmäßige Zuschreibung' (p.21 line 2): http://bieson.ub.uni-bielefeld.de/volltexte/2005/638/pdf/Vol...
Kieran McCann Jul 20, 2006:
the p.Z. in the links relates mainly to land/buildings valued on an income capitalisation/DCF basis: could this be contractual rent increases giving rise to a 'planmäßig' increase in value? As for the 'Beteiligungen', no idea, unless it's zero-bonds etc
RobinB Jul 20, 2006:
Damien - I just spoke to an accounting standard-setter and mentioned these planmäßige Zuschreibungen. A long burst of laughter - despite the heat - and the comment "Wow, what a good idea, we should all being doing it. Where can we sign up for them?"
RobinB Jul 20, 2006:
No, nothing else. It was the PPE revaluation under IFRS 1 and IAS 16 I was referring to. And it's most certainly not "planmäßig". Probably some superannuated German professor has developed a new "theory" of planmäßige Zuschreibungen... :-)
Damian Brandt (asker) Jul 20, 2006:
This is definitely going to the client, though.
Damian Brandt (asker) Jul 20, 2006:
It's already got a column for revaluation surpluses (and another one for asset additions). Or are you referring to something else? I found a reference in IAS 16.34 and 16.35 that PPE can be revalued every 3-5 years, which can result in a write-up. I would hardly call that "planmäßig", though.
RobinB Jul 20, 2006:
No "systematic reversal of impairment losses/writen-downs" (write-ups) under IFRSs, of course. I was wondering whether this might refer to the revaluation of assets required in some cases under IFRS1/IAS 16? You really have to check this with the client!
Damian Brandt (asker) Jul 20, 2006:
Sorry, cardinal sin on my part - forgot to mention the reporting standards. The German parent switched to IFRS in 2005; it used to report in accordance with HGB. Not that this matters for the local subsidiaries, since their accounts will be reconciled to IFRS.

The parent has subsidiaries in several countries, including Switzerland, Italy and the UK.

Thanks for the explanation of the reporting package, Robin!
RobinB Jul 19, 2006:
PS: these forms are what is commonly termed a "reporting package" :-)
RobinB Jul 19, 2006:
Well it's certainly not possible under IFRSs, as you correctly surmise. It's not in any of the GoB literature, and I can't find any reference to it in Swiss GAAP (FER) either. Suggest you ask the client for a reference to the specific accounting standard.
Damian Brandt (asker) Jul 19, 2006:
Correct links Sorry, here are the links without commas:

http://www.national.ch/public/de/inv/058201_national_annual_...

http://www.national.ch/public/de/inv/nat_an_rep_05_e_ih_fina...

Proposed translations

38 mins
German term (edited): planmäßige Zuschreibung (scheduled writeups)?
Selected

scheduled write-ups

I've never heard of this, but but it may be a peculiarity of Swiss GAAP. Do the local forms you are translating pertain to subsidiary accounting for annual reports according to Swiss GAAP (as the insurance company in the sample links), or do the forms definitely pertain to US-GAAP or IFRS/IAS? In the former case, I wouldn't worry too much about the legality of "scheduled write-ups", as the auditors of the Swiss National Insurance Company seem confident that it's in Ordnung.
Note from asker:
Hi Michael, appreciate the input. I went with something different based on the client's explanations. Still, you had a valid point: The auditors ought to know what they're doing. So I gave the points to you.
Something went wrong...
4 KudoZ points awarded for this answer.
-1
17 mins
German term (edited): planmäßige Zuschreibung (scheduled writeups)?

scheduled reports

At my company, we do weekly, monthly or whatever activity reports. It sounds like this might be similar.
Peer comment(s):
disagree Alison Schwitzgebel : no, not in this context
3 hrs
Something went wrong...
14 hrs

budgeted additions to fixed assets

You say that these are "non-current assets" so I think it more than safe to assume that they are fixed assets. Additions to fixed assets are a regular occurence during a company's financial year. There is no question if illegality.
See also Zahn.

Planmaessig = in accordance with the "Plan" (the budget) = budgeted

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