nedskrivningsplikt på fordringer

English translation: obligation to write down (reduce the book value of) the receivables

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Norwegian term or phrase:nedskrivningsplikt på fordringer
English translation:obligation to write down (reduce the book value of) the receivables
Entered by: brigidm
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14:23 Nov 22, 2006
Norwegian to English translations [PRO]
Bus/Financial - Finance (general)
Norwegian term or phrase: nedskrivningsplikt på fordringer
Context: review of a company's accounting and auditing practices. Sentence:
"Vi har vurdert om selskapet har noen nedskrivningsplikt på fordringen"
brigidm
Norway
Local time: 17:12
obligation to write down (reduce the book value of) the receivables
Explanation:
Generally, when the prospect of payment of a receivable or other debt owed to a business begins to look doubtful, the business faces a decision. If it carries doubtful receivables on its balance sheet as if they were good assets, it violates generally accepted accounting principles. On the other hand, until it becomes virtually certain that a debt will not be paid, most businesses would not be willing to write off the debt. The compromise is to adjust the book value of the receivables downward. This is usually done at one time for a large group of receivables, and is based on the average probability of eventual payment.
Selected response from:

Larry Abramson
United States
Local time: 11:12
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
4obligation to write down (reduce the book value of) the receivables
Larry Abramson
2 +1required write-down of receivables
Bjørnar Magnussen


  

Answers


13 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +1
required write-down of receivables


Explanation:
I am not sure about the translation of "fordringer" here - it might as well be "required write-down of debt".

Ref: "A simulation result carried out by IFC on the basis of 1999 KIS data for all large chaebols confirms the numbers above and provides an estimate of required debt write-downs."

Ref 2: "That source is the required write down of asset values on. loans that are non-performing in a period although they may have good prospects in the"


    ttp://hompi.sogang.ac.kr/@bb/bboard.asp?db=iias_pubwp&mode=download&num=11&filename=00-01.doc
    ep.lib.cbs.dk/download/ISBN/x656312717.pdf
Bjørnar Magnussen
Local time: 17:12
Specializes in field
Native speaker of: Native in NorwegianNorwegian
PRO pts in category: 169

Peer comments on this answer (and responses from the answerer)
agree  ojinaga
12 hrs
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11 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
obligation to write down (reduce the book value of) the receivables


Explanation:
Generally, when the prospect of payment of a receivable or other debt owed to a business begins to look doubtful, the business faces a decision. If it carries doubtful receivables on its balance sheet as if they were good assets, it violates generally accepted accounting principles. On the other hand, until it becomes virtually certain that a debt will not be paid, most businesses would not be willing to write off the debt. The compromise is to adjust the book value of the receivables downward. This is usually done at one time for a large group of receivables, and is based on the average probability of eventual payment.

Larry Abramson
United States
Local time: 11:12
Specializes in field
Native speaker of: English
PRO pts in category: 12
Notes to answerer
Asker: Thanks, Larry!

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