This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
  1. KudoZ™ Top
  2. Italian to English
  3. Business/Commerce (general)

ammortamento civile

English translation: statutory accounting depreciation and amortisation

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:ammortamento civile
English translation:statutory accounting depreciation and amortisation
Entered by: Marco Solinas

15:07 May 31, 2012
Italian to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Notes to financial statements
Italian term or phrase: ammortamento civile
In the notes to financial satements the distinction is made between "fondi di ammortamento civili" and "fondi di ammortamento fiscali." I understand that the former are the depreciations calculated on the basis of business consideration and the latter are those calculated for tax purposes, but I cannot find how to translate "civili." All suggestions welcome

Context:

"Si segnala che la società ha utilizzato la possibilità di affrancare, mediante pagamento di un'imposta sostitutiva, le differenze tra i fondi *ammortamento civili* e quelli fiscali.
Pertanto i fondi ammortamento civili al 31/12/2011 equivalgono a quelli fiscali e gli ammortamenti stanziati a livello *civilistico* nel presente bilancio sono gli stessi dedotti in sede di dichiarazione dei redditi.
"
Marco Solinas
Local time: 21:13
statutory accounting depreciation and amortisation
Explanation:
This one is always difficult to word. Depreciation is for tangible assets, and amortisation is for intangible assets. Then you have the ordinary published accounts of a company for the shareholders, the "statutory accounts" and a different set for tax purposes. A new machine might have a useful life of five years so if it cost a thousand you could deduct 200 a year. However the tax people might say not that is too much, you have to do it over ten years with only 100 hundred deducted each year for tax purposes.

BTW the "fondo" is the "accumulated depreciation/amortisation".

--------------------------------------------------
Note added at 6 mins (2012-05-31 15:14:46 GMT)
--------------------------------------------------

Four confidence was a mistake. Should have been five.
Selected response from:

James (Jim) Davis
Seychelles
Local time: 08:13
Grading comment
Thanks Jim
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2statutory accounting depreciation and amortisation
James (Jim) Davis


  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
statutory accounting depreciation and amortisation


Explanation:
This one is always difficult to word. Depreciation is for tangible assets, and amortisation is for intangible assets. Then you have the ordinary published accounts of a company for the shareholders, the "statutory accounts" and a different set for tax purposes. A new machine might have a useful life of five years so if it cost a thousand you could deduct 200 a year. However the tax people might say not that is too much, you have to do it over ten years with only 100 hundred deducted each year for tax purposes.

BTW the "fondo" is the "accumulated depreciation/amortisation".

--------------------------------------------------
Note added at 6 mins (2012-05-31 15:14:46 GMT)
--------------------------------------------------

Four confidence was a mistake. Should have been five.

James (Jim) Davis
Seychelles
Local time: 08:13
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1888
Grading comment
Thanks Jim

Peer comments on this answer (and responses from the answerer)
agree  Peter Cox
25 mins
agree  philgoddard
2 hrs
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

Return to KudoZ list

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

See also:
ProZ.com term search
Search millions of term translations
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search