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  3. Accounting

Erhaltene Anzahlungen auf Bestellungen

English translation: payments received on account of orders

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Erhaltene Anzahlungen auf Bestellungen
English translation:payments received on account of orders
Entered by: Languageman

17:34 Oct 19, 2006
German to English translations [PRO]
Bus/Financial - Accounting / Balance sheet
German term or phrase: Erhaltene Anzahlungen auf Bestellungen
Appears on the liabilities section of the balance sheet in a consolidated financial statement:
----
VERBINDLICHKEITEN
1. Verbindlichkeiten gegenüber Kreditinstituten
2. **erhaltene Anzahlungen auf Bestellungen**
3. Verbindlichkeiten aus Lieferungen und Leistungen
----
It's reasonably clear to me what this means, but I'm struggling to conjure up a standard English phrase that gets more than a couple of hundred hits on Google. So far I've tried a few variations on:
"advances on orders"
"payments in advance on orders"
"payments received for orders"

Any accounting wizards out there got a good phrase? Sorry, I don't know which accounting standard is used, but do know they have US operations.

TIA, Stephen
Languageman
United Kingdom
Local time: 12:04
payments received on account of orders
Explanation:
siehe auch Uwe Woywode (Wörterbuch Rechnungslegung und Steuern)
Selected response from:

Andrea Hauer
Germany
Local time: 13:04
Grading comment
Thanks all for the help and discussion.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3payments received on account of orders
Andrea Hauer
4 +1advances received (on account of orders)
Alison Schwitzgebel
5Payments received on account
Peter Barker
3deposits received for orders
Armorel Young


  

Answers


15 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
deposits received for orders


Explanation:
Would be my instinctive translation - you pay a deposit when you order the goods, and the rest when you receive them. But you could also consider prepayment on orders, or even down payments or advance payments on orders.

Armorel Young
Local time: 12:04
Native speaker of: English
PRO pts in category: 43
Notes to answerer
Asker: Thanks for the ideas. "advance payments on orders" is winning the Google race so far with 242 hits, but unfortunatels doesn't seem to be a common accounting phrase on non-translated websites.

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40 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
payments received on account of orders


Explanation:
siehe auch Uwe Woywode (Wörterbuch Rechnungslegung und Steuern)

Andrea Hauer
Germany
Local time: 13:04
Native speaker of: German
PRO pts in category: 32
Grading comment
Thanks all for the help and discussion.
Notes to answerer
Asker: Danke für die Hilfe, sieht gut aus


Peer comments on this answer (and responses from the answerer)
agree  RobinB: This is the standard translation. And see also of course "Deutsches Bilanzrecht/German Accounting Legislation", 4th edition 2006.
1 hr
  -> danke, Robin
agree  Shane London: In Australia we would call these 'prepayments.' In accrual accounting they get stored in a liability account in the balance sheet and transferred to revenue in the period they relate to.
4 hrs
  -> danke, Shane
agree  René Laszlo
11 hrs
  -> danke, René
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
advances received (on account of orders)


Explanation:
Straight out of IAS 11.40

An enterprise shall disclose...

b) the amount of advances received

EIn Unternehmen hat jed der folgende Angaben... zu machen

b) den Betrag erhaltener Anzahlungen

Also found on the Internet under iasplus.com
"Disclosure


amount of contract revenue recognised; [IAS 11.39(a)]
method used to determine revenue; [IAS 11.39(b)]
method used to determine stage of completion; [IAS 11.39(c)] and
for contracts in progress at balance sheet date: [IAS 11.40]

aggregate costs incurred and recognised profit

amount of advances received

amount of retentions "


    Reference: http://www.iasplus.com/standard/ias11.htm
Alison Schwitzgebel
France
Local time: 13:04
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 346
Notes to answerer
Asker: Thanks Alison


Peer comments on this answer (and responses from the answerer)
agree  RobinB: This is also OK if it's an IFRS context. However, the German term is pure HGB (s. 266(3) C.3)
1 hr
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16 hrs   confidence: Answerer confidence 5/5
Payments received on account


Explanation:
Is the standard accounting term as far as I am aware

Peter Barker
Local time: 12:04
Works in field
Native speaker of: English
PRO pts in category: 4
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