Glossary entry (derived from question below)
Italian term or phrase:
continuazione dell'attività
English translation:
"going concern" basis
Added to glossary by
James (Jim) Davis
Oct 9, 2009 13:13
14 yrs ago
14 viewers *
Italian term
United Kingdom
Italian>English Translator
Native in: English 
Works in: Italian to English, Spanish to English, Portuguese to English
continuazione dell'attività
Italian to English
Bus/Financial
Finance (general)
explanatory notes for balance sheets
La valutazione delle voci di bilancio è stata fatta ispirandosi a criteri generali di prudenza e competenza, nella prospettiva della continuazione dell'attività nonché tenendo conto della funzione economica dell'elemento dell'attivo e passivo.
I'm unsure as to whether "continuazione dell'attività" means continuation of the business practice or continuation of assets held given that attività in financial terms refers to financial assets.
Any thoughts?
I'm unsure as to whether "continuazione dell'attività" means continuation of the business practice or continuation of assets held given that attività in financial terms refers to financial assets.
Any thoughts?
Proposed translations
(English)
| 5 +4 | "going concern" basis |
James (Jim) Davis
|
| 5 +4 | going concern |
Alison Kennedy
|
| 5 | an on-going business standpoint/perspective |
Rosanna Palermo
|
| 4 | continuous/continued operation |
jaime losantos
|
Change log
Oct 12, 2009 13:18: Frances Leggett Created KOG entry
Oct 12, 2009 13:34: James (Jim) Davis changed "Edited KOG entry" from "<a href="/profile/650394">Frances Leggett's</a> old entry - "continuazione dell'attività"" to """going concern" basis""
Proposed translations
+4
9 mins
James (Jim) Davis
Seychelles
Seychelles
Native in English
Specializes in field
Seychelles
25 years experience constantly improving
Native in: English (Variant: British) 
Works in: Italian to English
Related KudoZ points
:
4516
Selected
"going concern" basis
on a "going concern" assumption basis
This is the concept, that the accounts were prepared assuming that the company is a "going concern". The value of a two year old machine in a textile factory that is making a profit, that is a "going concern" is measured in terms of what the machine can still produce. However, the same machine in a company that is making huge losses (not a "going concern") is its second hand sale price or scrap value.
This "going concern" assumption is always difficult to fit into the Italian text.
http://en.wikipedia.org/wiki/Going_concern
This is the concept, that the accounts were prepared assuming that the company is a "going concern". The value of a two year old machine in a textile factory that is making a profit, that is a "going concern" is measured in terms of what the machine can still produce. However, the same machine in a company that is making huge losses (not a "going concern") is its second hand sale price or scrap value.
This "going concern" assumption is always difficult to fit into the Italian text.
http://en.wikipedia.org/wiki/Going_concern
4 KudoZ points awarded for this answer.
Comment: "Thank you"
+4
5 mins
Alison Kennedy
Italy
Italy
Native in English
Specializes in field
Italy
Responsive. Resourceful. Results.
Native in: English (Variant: US)
Works in: Italian to English, German to English
Related KudoZ points
:
334
going concern
i.e. taking the view that the company is a going concern.
Alison
Alison
Peer comment(s):
| agree |
De Novi
22 mins
|
|
Thx
|
|
| agree |
DCypher (X)
: the going concern principle (one of the core accounting principles)
1 hr
|
|
Thx
|
|
| agree |
philgoddard
: You were first!
1 hr
|
|
Yes, I was fiddling around on Proz.com waiting for a project to come thru :-)
|
|
| agree |
Peter Cox
11 hrs
|
10 mins
jaime losantos
Spain
Spain
Native in English
Works in field
Spain
Helping you build your Global Brand
Native in: Spanish , English
Works in: German to English, Italian to English, French to English, and 7 more.
continuous/continued operation
accounting term
41 mins
Rosanna Palermo
Native in Italian
&
English
Specializes in field
Accuracy matters - La precisione conta
Native in: Italian , English (Variant: US)
Works in: Italian to English
Related KudoZ points
:
163
an on-going business standpoint/perspective
nella prospettiva della continuazione dell'attivita' is very standard and found in just about every notes to the financial statement n I I have come across. This is the way I usually translate it.
The evaluation of items in the financial statements was carried out based on the general criteria of prudence and accruals, from an on-going business standpoint (or perspective) and taking into account the economic function of the asset or liability considered.
Applying the prudence principle means evaluating each component of the individual asset and liability entries or items separately, to avoid offsetting losses which should have been accounted for and gains which should not be recognized because not yet realized.
In conformity with the accrual principle, the effect of transactions and other events is shown for accounting purposes and attributed to the year in which the operations or events refer to, and not to the year they are effectively settled (receipt or payment).
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Note added at 44 mins (2009-10-09 13:57:24 GMT)
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What it really boils down to is:
they expect the business "activity" to continue existing over time, and performed the calculations (accruals, deferrals etc.)accordingly
The evaluation of items in the financial statements was carried out based on the general criteria of prudence and accruals, from an on-going business standpoint (or perspective) and taking into account the economic function of the asset or liability considered.
Applying the prudence principle means evaluating each component of the individual asset and liability entries or items separately, to avoid offsetting losses which should have been accounted for and gains which should not be recognized because not yet realized.
In conformity with the accrual principle, the effect of transactions and other events is shown for accounting purposes and attributed to the year in which the operations or events refer to, and not to the year they are effectively settled (receipt or payment).
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Note added at 44 mins (2009-10-09 13:57:24 GMT)
--------------------------------------------------
What it really boils down to is:
they expect the business "activity" to continue existing over time, and performed the calculations (accruals, deferrals etc.)accordingly
Note from asker:
| I also think your option works fine, and this is what I had understood it to be, but I think that this term is perhaps a more explanatory use of the term whereas "going concern" after reading the information on Wikipedia seems to be the official financial term used for this same meaning but thank you very much for your input. |
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