riversamento fondi

English translation: reversal of provisions

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:riversamento fondi
English translation:reversal of provisions
Entered by: Joanna M Case

11:07 Oct 8, 2018
Italian to English translations [PRO]
Bus/Financial - Accounting / financial report - provisions/reserves
Italian term or phrase: riversamento fondi
Heading to a section in a relazione finanziaria consolidata:

‘ACCANTONAMENTI A FONDI RISCHI, RIVERSAMENTO FONDI’

In the table that follows, we have a section and figures for ‘accantonamenti fondi rischi ed oneri’ and a section and figures for ‘riversamento fondo rischi ed oneri’.

I’m a bit confused. If this ‘riversamento’ is an actual transfer or payment of money that exists, then if I’ve understood correctly, the ‘fondi’ it’s going into must be reserves (as opposed to provisions) but that doesn’t tie in with the heading to the section in the table: ‘riversamento fondo rischi ed oneri’, which is a provision. Also, I'm not a qualified accountant but I'm not sure that reserves and provisions can simply be lumped together like this in any event, as they are different beasts, which suggests I might have missed something.
Joanna M Case
United Kingdom
Local time: 22:55
reversal of provisions
Explanation:
riversamento is the contrary of "allocating" a provision.
simply some amounts that had been set aside to the provision for risks, have now been reversed

reserves are equity items while provisions are liabilities, so you should not lump them together

e.g
"Gli accantonamenti ai fondi rischi ed oneri, positivi per 10 milioni di euro, comprendono il riversamento a conto economico dell’accantonamento
effettuato nel 2015 per circa 12 milioni di euro a fronte della contribuzione aggiuntiva per le quattro banche in risoluzione, richiamata dal fondo di risoluzione nazionale a fine 2016. "
ie. the allocation that was made in 2015 is now being reversed
Selected response from:

cristianac
United Kingdom
Local time: 22:55
Grading comment
makes perfect sense - thank you!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1reversal of provisions
cristianac


  

Answers


9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
reversal of provisions


Explanation:
riversamento is the contrary of "allocating" a provision.
simply some amounts that had been set aside to the provision for risks, have now been reversed

reserves are equity items while provisions are liabilities, so you should not lump them together

e.g
"Gli accantonamenti ai fondi rischi ed oneri, positivi per 10 milioni di euro, comprendono il riversamento a conto economico dell’accantonamento
effettuato nel 2015 per circa 12 milioni di euro a fronte della contribuzione aggiuntiva per le quattro banche in risoluzione, richiamata dal fondo di risoluzione nazionale a fine 2016. "
ie. the allocation that was made in 2015 is now being reversed


cristianac
United Kingdom
Local time: 22:55
Specializes in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish
PRO pts in category: 197
Grading comment
makes perfect sense - thank you!

Peer comments on this answer (and responses from the answerer)
agree  Peter Cox
15 hrs
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