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ereignisorientierte Neubewertung

English translation: event-driven (fair value) measurement

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:ereignisorientierte Neubewertung
English translation:event-driven (fair value) measurement
Entered by: nruddy
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17:44 Feb 21, 2005
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: ereignisorientierte Neubewertung
Context: conversion to IFRSs. Unfortunately, I have no more information than the sentence below.

[Company] hat von der Möglichkeit der ereignisorientierten Neubewertung Gebrauch gemacht und die beizulegenden Zeitwerte, welche in die Eröffnungsbilanz anlässlich der Privatisierung zum 1. Januar 1995 eingegangen sind, unter IFRS als Anschaffungs- oder Herstellungskosten für die betreffenden Vermögenswerte und Schulden zum 1. Januar 1995 angenommen
nruddy
Mexico
Local time: 11:05
event-driven (fair value) measurement
Explanation:
And: the winner is Tony!! Give the man some points please, Niamh.

IFRS 1.19:

"A first-time adopter may have established a deemed cost under previous GAAP for some or all of its assets and liabilities by measuring them at their fair value at one particular date because of an event such as a privatisation or initial public offering. It may use such event-driven fair value measurements as deemed cost for IFRSs at the date of that measurement."

German:

"Ein erstmaliger Anwender kann gemäß den vorherigen Rechnungslegungsgrundsätzen für alle oder einen Teil seiner Vermögenswerte und Schulden einen als Ersatz für Anschaffungs- oder Herstellungskosten angesetzten Wert ermittelt haben, indem er sie wegen eines Ereignisses wie einer Privatisierung oder eines Börsengangs zu ihrem beizulegenden Zeitwert zu diesem bestimmten Zeitpunkt bewertete. Solche ereignisgesteuerten Bewertungen zum beizulegenden Zeitwert dürfen von dem Unternehmen im Rahmen der IFRS zum Datum der Bewertung als Ersatz für Anschaffungs- oder Herstellungskosten verwendet werden."

The German writer has used the "als Anschaffungs- oder Herstellungskosten .... angenommen" formulation to avoid having to use the correct German term for deemed cost: "Ersatz für Anschaffungs- oder Herstellungskosten". No doubt he did this to confuse us...
Selected response from:

RobinB
Germany
Local time: 18:05
Grading comment
Since Tony refused the points, I have to give them to you, Robin.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5event-driven (fair value) measurementRobinB
4election to adjust to fair value
Ted Wozniak
3option to use revalued amounts as at the date of privatisationKieran McCann
3 -1event-driven re-evaluation
Nesrin


Discussion entries: 5





  

Answers


58 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
event-driven re-evaluation


Explanation:
Causality and Replication in Concurrent Processes 12.00-12.15 Valeriy Vyatkin Event-Driven Re-Evaluation of Boolean Functions Using Logic Circuits 12.15-12.30 ...
www.iis.nsk.su/psi03/programme_e.shtml

Event Driven: Hierbei handelt es sich um eine ereignisorientierte Strategie, die versucht von Preisbewegungen zu profitieren, die durch Fusionen ...
www.apano.de/5_2_2.php

sowohl für die serviceorientierte Architektur (Service-Oriented Architecture, SOA) als auch die ereignisorientierte Architektur (Event-Driven Architectures ...
www.prnewswire.co.uk/cgi/news/release?id=122666

Eine Variante ist die
ereignisorientierte (event-driven) Übertragung. Hierbei wird das ...
www.sps-magazin.de/artikel/artikelshow.asp?nr=22759





Nesrin
United Kingdom
Local time: 17:05
Works in field
Native speaker of: Arabic
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
disagree  Ted Wozniak: literal translation - Neubewertung in IFRS-speak is an adjustment
52 mins
  -> You're probably right - not being an IFRS-speaker, I just thought it may be a possibility, since the expression is actually used as suggested.
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
option to use revalued amounts as at the date of privatisation


Explanation:
this looks like one of the exceptions available under IFRS1 whereby a first-time adopter does not have to restate/remeasure balance sheet amounts. One of those options allows for values previously arrived at in the course of a privatisation or IPO to become the 'deemed cost' for IFRS purposes.

Kieran McCann
United Kingdom
Local time: 17:05
Specializes in field
Native speaker of: English
PRO pts in category: 125

Peer comments on this answer (and responses from the answerer)
neutral  Ted Wozniak: but they did take the adjustment and changed acquisition cost to the fair value
44 mins
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
election to adjust to fair value


Explanation:
Again, this term doesn't appear in the German version of IFRS 1, but I would have to assume this is what they mean, as IFRS permits this adjustment of cost to fair value upon first-time adoption of IFRS.


    IFRS 1
Ted Wozniak
United States
Local time: 11:05
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 726
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2 hrs   confidence: Answerer confidence 5/5
event-driven (fair value) measurement


Explanation:
And: the winner is Tony!! Give the man some points please, Niamh.

IFRS 1.19:

"A first-time adopter may have established a deemed cost under previous GAAP for some or all of its assets and liabilities by measuring them at their fair value at one particular date because of an event such as a privatisation or initial public offering. It may use such event-driven fair value measurements as deemed cost for IFRSs at the date of that measurement."

German:

"Ein erstmaliger Anwender kann gemäß den vorherigen Rechnungslegungsgrundsätzen für alle oder einen Teil seiner Vermögenswerte und Schulden einen als Ersatz für Anschaffungs- oder Herstellungskosten angesetzten Wert ermittelt haben, indem er sie wegen eines Ereignisses wie einer Privatisierung oder eines Börsengangs zu ihrem beizulegenden Zeitwert zu diesem bestimmten Zeitpunkt bewertete. Solche ereignisgesteuerten Bewertungen zum beizulegenden Zeitwert dürfen von dem Unternehmen im Rahmen der IFRS zum Datum der Bewertung als Ersatz für Anschaffungs- oder Herstellungskosten verwendet werden."

The German writer has used the "als Anschaffungs- oder Herstellungskosten .... angenommen" formulation to avoid having to use the correct German term for deemed cost: "Ersatz für Anschaffungs- oder Herstellungskosten". No doubt he did this to confuse us...

RobinB
Germany
Local time: 18:05
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 921
Grading comment
Since Tony refused the points, I have to give them to you, Robin.

Peer comments on this answer (and responses from the answerer)
neutral  Nesrin: hmm just curious, why is Tony the winner? As far as I can see, I was the first one to suggest "event-driven" here. Though apparently my "re-evaluation" was off the mark (as Tony's revaluation would be).Your suggestion is more plausible of course.//OK :-)
11 mins
  -> No hard feelings, and nothing at all personal, believe me, but he found the IFRS 1 reference, which is what it's all about. Your suggestion was certainly on-track, but I'm afraid the context was entirely different.
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