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  3. Accounting

Vorratsvermögen bestandsmäßig erfassen

English translation: The company has recorded the actual items in stock as at the accounting reference date.

07:53 Jun 18, 2015
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: Vorratsvermögen bestandsmäßig erfassen
Dear colleagues,

I have difficulties with translating the above phrase in annual financial statements (HGB).

I've already asked the same question in the German to Russian pair (in fact, I need to prepare translations into both languages), but not sure the suggested answer is correct. Please see the context below:

Das Vorratsvermögen wurde von der Gesellschaft bestandsmäßig zum Abschlussstichtag erfasst. An der Erfassung der Vorräte haben wir nicht mitgewirkt.

(the text was written by the tax consultants who prepared the statements)
blue_roses
English translation:The company has recorded the actual items in stock as at the accounting reference date.
Explanation:

Vorratsvermögen is a defined term in accounting and it is referred to as the inventories.

Do not ask me why I have opted out of using such defined term (secret rules of the game, perhaps?) Maybe it just didn't flow right.

An der Erfassung der Vorräte haben wir nicht mitgewirkt.
We have not been involved in recording such items in stock/said inventories.
Selected response from:

Sebastian Witte
Germany
Local time: 22:55
Grading comment
I think your suggestion expresses very well the idea of the text, but Ted's option really makes sense too
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2recognized inventories based on count/physical inventory
Ted Wozniak
4The company has recorded the actual items in stock as at the accounting reference date.
Sebastian Witte
2retained assets
gangels (X)


  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
recognized inventories based on count/physical inventory


Explanation:
I am fairly sure the auditors mean that the "Vorräte wurde nach dem Inventur/Bestandsaufnahme erfasst", i.e., that the inventory figures for the financial statements are recognized based on the results of a physical inventory.

At least that's the only thing that makes sense.

Ted Wozniak
United States
Local time: 15:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 762

Peer comments on this answer (and responses from the answerer)
agree  Sebastian Witte
6 hrs
agree  RobinB: Yes, recognized "at the reporting date" (zum Abschlussstichtag).
20 hrs
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7 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
retained assets


Explanation:
Since it is a financial statement, they are referring to the monetary value of any inventories, i.e. retained assets.

Inventory was recognized by the company as retained assets at the closing date of the financial year.

gangels (X)
Local time: 14:55
Works in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 122
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9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Das Vorratsvermögen wurde von der Gesellschaft bestandsmäßig zum Abschlussstichtag erfasst.
The company has recorded the actual items in stock as at the accounting reference date.


Explanation:

Vorratsvermögen is a defined term in accounting and it is referred to as the inventories.

Do not ask me why I have opted out of using such defined term (secret rules of the game, perhaps?) Maybe it just didn't flow right.

An der Erfassung der Vorräte haben wir nicht mitgewirkt.
We have not been involved in recording such items in stock/said inventories.

Sebastian Witte
Germany
Local time: 22:55
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 74
Grading comment
I think your suggestion expresses very well the idea of the text, but Ted's option really makes sense too
Login to enter a peer comment (or grade)



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