cessione dei crediti per ricavi fittizi

English translation: assignment (or cession) of receivables in exchange for fictitious revenues

02:53 Nov 18, 2006
Italian to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Italian term or phrase: cessione dei crediti per ricavi fittizi
La prima operazione è costituita dalla cessione dei crediti per ricavi fittizi e per distrazioni fondi all YYY.

This is a confimation more than anything. I ma translating this as:
The first transaction/operation is composed of the assignment of credits in exchange for fictitious proceeds/revenues as well as for diversion funds to YYY.
Is this the best way to translate this.

Thanks
Giovanna
giovie72
United States
Local time: 14:23
English translation:assignment (or cession) of receivables in exchange for fictitious revenues
Explanation:
"crediti" are either "receivables" or "debtors" (strictly UK), but never "credits"
Selected response from:

Peter Cox
Italy
Local time: 20:23
Grading comment
Thanks Peter :-)
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2assignment (or cession) of receivables in exchange for fictitious revenues
Peter Cox
5transfer of receivables/debtors(uk)/assets/loans/debts for fictitious revenues
James (Jim) Davis


Discussion entries: 2





  

Answers


3 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
assignment (or cession) of receivables in exchange for fictitious revenues


Explanation:
"crediti" are either "receivables" or "debtors" (strictly UK), but never "credits"

Peter Cox
Italy
Local time: 20:23
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 246
Grading comment
Thanks Peter :-)

Peer comments on this answer (and responses from the answerer)
agree  James (Jim) Davis: Except when they are "tax credits"
14 mins

agree  fabio_torn
2 hrs
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3 hrs   confidence: Answerer confidence 5/5
transfer of receivables/debtors(uk)/assets/loans/debts for fictitious revenues


Explanation:
"The first operation consisted of the transfer of receivables/assets/debts for fictitious revenues".
Cessione is very often a sale, but strictly speaking it is the transfer of ownership. The crediti can be receivables, in which case they constitute an asset and can be called an asset. When a bank transfers or sells loans it has granted to a debt collection specialist, it is selling the bad debts, so the "crediti" become "debts".
A "receivable" is more usual for short term items, while an asset is more usual for long term items, but its not a strict rule.


James (Jim) Davis
Seychelles
Local time: 22:23
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1880
Notes to answerer
Asker: thanks James, very helpful

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