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competenza economica e temporale

English translation: matching and accrual principles

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:competenza economica e temporale
English translation:matching and accrual principles
Entered by: Anna ZANNELLA

16:45 Apr 16, 2013
Italian to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Financial statements
Italian term or phrase: competenza economica e temporale
Costi e ricavi
Sono esposti secondo il principio della prudenza e della *competenza economica*.

I need to ask this again. It is in the Proz dictionary as meaning an accrual basis of accounting - though there appears to be some contention about this being an outdated US term. Current new accounting stand alone UK term?

I've seen the entry *competenza economica e temporale" = "matching and accruals" (basis of accounting)
Thanks.
Anna ZANNELLA
Italy
Local time: 17:52
matching and accrual principles
Explanation:
the two concepts are explained here

http://stream.sdabocconi.it/bilancio/Cap04/approf4_4.htm

from a very reliable source:
http://www.proz.com/kudoz/italian_to_english/accounting/1891...
Selected response from:

CristianaC
United Kingdom
Local time: 16:52
Grading comment
thanks
4 KudoZ points were awarded for this answer



Summary of answers provided
4matching and accrual principles
CristianaC
4 -1matching principles and accruals basis
James (Jim) Davis


Discussion entries: 7





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
matching and accrual principles


Explanation:
the two concepts are explained here

http://stream.sdabocconi.it/bilancio/Cap04/approf4_4.htm

from a very reliable source:
http://www.proz.com/kudoz/italian_to_english/accounting/1891...


CristianaC
United Kingdom
Local time: 16:52
Specializes in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish
PRO pts in category: 105
Grading comment
thanks

Peer comments on this answer (and responses from the answerer)
agree  Peter Cox
8 hrs
  -> thank you Peter!
disagree  Giunia Totaro: Answer not correct.
108 days
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
matching principles and accruals basis


Explanation:
I'll leave you to get round the problem of the repetition with the principle of prudence.

--------------------------------------------------
Note added at 2 hrs (2013-04-16 19:00:02 GMT)
--------------------------------------------------

The costs must match the earnings "competenza economica" and the obligation of the expense and the recognition of the revenue must both match the same time period, "competenza temporale" all of which matching principles taken together culminate in accrual accounting. OK it isn't perfect, but how are you going to do it.

To quote from your reference:
"While there are no divergencies in interpreting the accrual concept, no unique interpretation of matching exists. The principle of matching is often understood as the practice of allocating expenditure to the related income."
It clearly considers the two separately as does my post even if one (matching principle) is considered as embodied in the other and in my view are often totally blended with each other. "People and children" "animals and birds" "buildings and houses".
However, you have thrown down the gauntlet: post!

James (Jim) Davis
Seychelles
Local time: 19:52
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1888

Peer comments on this answer (and responses from the answerer)
disagree  FinWord: matching is a subset of accruals. With respect Jim, horrible solution//no seriously
5 mins
  -> You are being finicky.
agree  CristianaC
13 mins
disagree  Giunia Totaro: Answer not correct.
108 days
Login to enter a peer comment (or grade)



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