zugehen

English translation: accounted for / measured / recognized

15:14 Apr 13, 2019
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: zugehen
The general context is discussion of the "modified retrospective approach" under IFRS 16 (and it is to this that 'Ansatz' refers).

Bei diesem Ansatz gehen die Leasingverbindlichkeit und der Vermögenswert mit dem Barwert der ausstehenden Leasingzahlungen zu.

My question: what is the best translation for 'zugehen' in this mini-context?
verbal1
Local time: 22:01
English translation:accounted for / measured / recognized
Explanation:
with this modified retrospective approach, lease liabilities and assets are accounted for / measured / recognized at the present value of the outstanding lease payments

sources:

Example: How to Adopt IFRS 16 Leases - IFRSbox - Making IFRS Easy
https://www.ifrsbox.com/example-adopt-ifrs-16-leases/
Depreciation of the ROU asset: Let's say it's straight line over the lease term of 5 ... c) Accounting for the lease payments before 1 January 2018 under IFRS 16 ... the lease liability under modified retrospective approach as present value of the ... In this example, lease liability is effectively measured as present value of the ...

Leases Discount rates - KPMG Global
https://home.kpmg.com/content/dam/.../leases-discount-rate.p... -
16 sep. 2017 - new assets and liabilities are initially measured at the present value of the lease ... the sum of the present value of (i) the lease payments and (ii) the unguaranteed ... under a retrospective approach, historical discount rates must be determined. .... For example, if the modification is accounted for as a.

Leases payments - KPMG
https://assets.kpmg.com/content/dam/kpmg/.../lease-payments.... -
16 nov. 2017 - lease payments should be included in the lease liability, initially and subsequently? ... A lessee that follows a modified retrospective approach can elect to transition ... volatility to gross assets and liabilities for lessees, due to the ..... is measured at the present value of the future lease payments plus any.

Insights into IFRS 16 - Grant Thornton Ireland
https://www.grantthornton.ie/globalassets/.../grant-thornton... -
1 ene. 2019 - Under the modified retrospective approach, for leases previously classified as operating leases, the lease liability is measured at the present value of the remaining lease payments and discounted using the incremental borrowing rate at the ... right-of-use asset and the lease liability are accounted for by.

Leases: Top differences between IFRS 16 and ASC 842
https://advisory.kpmg.us/articles/.../ifrs-16-asc-842-differ...
The IFRS and US GAAP requirements for lessees' Day Two accounting will create ... while the lessee will report an asset and a liability related to all leases on its ... They apply mainly to the modified retrospective approach for leases that ... measures the right-of-use asset at the present value of the lease payments in the ...

At "lease" - Deloitte
https://www2.deloitte.com/.../us-aers-hu-at-lease-there-are-... -
17 oct. 2018 - In the transition to ASC 842, the lease obligation for an operating lease is typically measured ... Q&A 3 Operating Lease Payments That Fluctuate on the Basis of a ... Q&A 4 Approaches to Accounting for Executory Costs for Operating ..... A lessee shall measure the lease liability at the present value of the ...

IFRS IN PRACTICE / IFRS 16 Leases - BDO Global
https://www.bdo.global/...in.../IFRS16-Leases_print.pdf.aspx...
31 dic. 2017 - Practical Expedients – Modified Retrospective Approach ... IFRS 16 Leases brings significant changes in accounting ..... contract as a lease, recognising an asset and liability for the present value of all payments to be made ...
Selected response from:

andres-larsen
Venezuela
Local time: 18:01
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
1 +4accounted for / measured / recognized
andres-larsen
4go in
Adrian MM.


Discussion entries: 1





  

Answers


1 hr   confidence: Answerer confidence 1/5Answerer confidence 1/5 peer agreement (net): +4
accounted for / measured / recognized


Explanation:
with this modified retrospective approach, lease liabilities and assets are accounted for / measured / recognized at the present value of the outstanding lease payments

sources:

Example: How to Adopt IFRS 16 Leases - IFRSbox - Making IFRS Easy
https://www.ifrsbox.com/example-adopt-ifrs-16-leases/
Depreciation of the ROU asset: Let's say it's straight line over the lease term of 5 ... c) Accounting for the lease payments before 1 January 2018 under IFRS 16 ... the lease liability under modified retrospective approach as present value of the ... In this example, lease liability is effectively measured as present value of the ...

Leases Discount rates - KPMG Global
https://home.kpmg.com/content/dam/.../leases-discount-rate.p... -
16 sep. 2017 - new assets and liabilities are initially measured at the present value of the lease ... the sum of the present value of (i) the lease payments and (ii) the unguaranteed ... under a retrospective approach, historical discount rates must be determined. .... For example, if the modification is accounted for as a.

Leases payments - KPMG
https://assets.kpmg.com/content/dam/kpmg/.../lease-payments.... -
16 nov. 2017 - lease payments should be included in the lease liability, initially and subsequently? ... A lessee that follows a modified retrospective approach can elect to transition ... volatility to gross assets and liabilities for lessees, due to the ..... is measured at the present value of the future lease payments plus any.

Insights into IFRS 16 - Grant Thornton Ireland
https://www.grantthornton.ie/globalassets/.../grant-thornton... -
1 ene. 2019 - Under the modified retrospective approach, for leases previously classified as operating leases, the lease liability is measured at the present value of the remaining lease payments and discounted using the incremental borrowing rate at the ... right-of-use asset and the lease liability are accounted for by.

Leases: Top differences between IFRS 16 and ASC 842
https://advisory.kpmg.us/articles/.../ifrs-16-asc-842-differ...
The IFRS and US GAAP requirements for lessees' Day Two accounting will create ... while the lessee will report an asset and a liability related to all leases on its ... They apply mainly to the modified retrospective approach for leases that ... measures the right-of-use asset at the present value of the lease payments in the ...

At "lease" - Deloitte
https://www2.deloitte.com/.../us-aers-hu-at-lease-there-are-... -
17 oct. 2018 - In the transition to ASC 842, the lease obligation for an operating lease is typically measured ... Q&A 3 Operating Lease Payments That Fluctuate on the Basis of a ... Q&A 4 Approaches to Accounting for Executory Costs for Operating ..... A lessee shall measure the lease liability at the present value of the ...

IFRS IN PRACTICE / IFRS 16 Leases - BDO Global
https://www.bdo.global/...in.../IFRS16-Leases_print.pdf.aspx...
31 dic. 2017 - Practical Expedients – Modified Retrospective Approach ... IFRS 16 Leases brings significant changes in accounting ..... contract as a lease, recognising an asset and liability for the present value of all payments to be made ...

andres-larsen
Venezuela
Local time: 18:01
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20
Grading comment
Selected automatically based on peer agreement.
Notes to answerer
Asker: Thank you, Andres.


Peer comments on this answer (and responses from the answerer)
agree  philgoddard
9 hrs
  -> Thanks, Phil!

agree  Steffen Walter: ... are recognised at the (net) present value of the outstanding/due lease payments
15 hrs
  -> Danke, Steffen, auch für Deinen hilfreichen Kommentar!

agree  michael10705 (X)
21 hrs
  -> Thanks!

agree  Christopher Stoldt
4 days
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
go in


Explanation:
> go into, so are entered in the accounts > .... at the cash value of the o/s leasing payments.

I don't think - pace Robin B. and Ted W. - that zuegehen is an accounting term of art, rather eingehen would switch the emphasis to 'are received' e.g. by the leassors or finance co.

Note the (laughably) unparsed verb of zu(-)gehen in the web ref.


    Reference: http://eng.proz.com/kudoz/german-to-english/law-contracts/48...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 25

Peer comments on this answer (and responses from the answerer)
neutral  Steffen Walter: Your KudoZ ref. includes an infinitive to be written as two words ("zu gehen"), which is not what's meant here./I agree that "eingehen" would be more plausible here (gehen ... [in die Berechnung ...] ... ein: are recognised at the (N)PV of ...)./I see :-)
1 hr
  -> The fusion of the words is what I meant by laughable// Otherwise, ‚zugehen‘ is not exactly a standard, non-coll. term of art in DE, plus note UK accountants’ idiom of ‘go in‘ (the left col.) www.accountingtools.com/articles/2017/5/17/debits-and-credi...

neutral  philgoddard: I've never seen "go in" used in this way.
8 hrs
  -> So you have seen ‚zugehen‘ as a standard, non-coll. term of art in German. Also you may have been out of the UK too long post-a/cs qualif. www.accountingtools.com/articles/2017/5/17/debits-and-credi... debits always *go in* the left column
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