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Re: TERM: Cizi zdroje

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  • robert.mladek
    Better late than never. I just ran into this discussion and (six years too late) felt an irresistible need to respond. First, Czech Rezervy are English
    Message 1 of 12 , Nov 3, 2007
      Better late than never.

      I just ran into this discussion and (six years too late) felt an
      irresistible need to respond.

      First, Czech Rezervy are English Provisions.

      Translating it as reserves is simply wrong and anyone who claims
      otherwise has little or no accounting knowledge.

      Second, the web page in question www.gaap.cz has been up and running
      since 1999, and has become the place to discuss US GAAP and IFRS in
      the Czech language.

      Finally, since we're on the subject, Czech Fondy ze zisky are English
      Reserves (or properly Appropriated Retained Earnings).

      Czech Opravné položky are English Allowances.

      Since there is no exact equivalent for English Funds (or properly,
      Restricted Assets) in the Czech language, this term cannot be
      translated, but must be explained.

      P.S. As to the Longman dictionary, as with most things from this
      publisher, it's simply a waste of trees.

      Mladek


      --- In Czechlist@yahoogroups.com, Tomás Skront <skront@...> wrote:
      >
      > As always, several contradictory sources may be referred to. With
      respect to
      > Mr Mladek, I do no consider "reserves" as erroneuos translation of
      > "rezervy". He points out that "it makes it appear that this is an equity
      > item whereas, in fact, it is a liability", but "provisions" does not
      seem to
      > solve the problem (or does it?).
      >
      > As for those contradictions, you always refer to the Mladek´s page.
      It might
      > be helpful and I would need more time to study all the articles
      published.
      > As for me, I usually refer to the Longman Dictionary of Business
      English by
      > J. H. Adam who gives a nice comparison of "provisions" and "reserves" as
      > follows:
      > "provision": rezervy, financni zajisteni
      > "provisions": zasoby (potravin)
      > "reserves": rezervy (castky, ktere podnik vycleni ze zisku, aby mohl
      celit
      > nepredvidanym udalostem, neocekavanym budoucim vydajum nebo aby mohl
      pozdeji
      > investovat. Jsou dva druhy rezerv: revenue reserves - prijmove rezervy,
      > ktere jsou dobrovolne a ktere lze pozdeji vyplatit jako dividendy, a
      capital
      > reserves - kapitalove rezervy, ktere podle zakona nelze rozdelit jako
      > dividendy, az na vyjimecne pripady, o nichz rozhoduje soud.)
      > I guess these contradictions are impossible to be resolved until the
      Czech
      > accounting standards are fully compatible with the international
      ones. But
      > maybe some other members will help to solve this issue.
      >
      > As for Jamie´s contribution. I would always take into consideration the
      > context in which "cizi zdroje" are used. If they are used as
      opposition to
      > "vnitrni zdroje (financovani)", I would prefer external funds as well.
      > However, then translating the Balance Sheet, I will go on
      translating "cizi
      > zdroje" as plain "liabilities", with regard to the common practise
      that you
      > can check with the Financial Times and their web page (there are annual
      > reports available there free of charge).
      >
      > Regards,
      > Tomas
      > ----- Original Message -----
      > From: "melvyn.geo" <zehrovak@...>
      > To: <Czechlist@yahoogroups.com>
      > Sent: Thursday, December 06, 2001 1:05 PM
      > Subject: [Czechlist] Re: TERM: Cizi zdroje
      >
      >
      > --- In Czechlist@y..., Tomás Skront <skront@m...> wrote:
      > > I go for, as you nicely said, plain "liabilities", while translating
      > > subcategories as follows: reserves,
      >
      > Hmmm. Not that I claim to be an expert in the arcana of Czech
      > accounting procedures or anything, but I would be careful on this
      > point. Robert Mladek has a very useful page which goes into the
      > differences of the various accounting systems at:
      >
      > www.gaap-cz.com/GAAP-cz/English/articles/Czech-Balance-Sheet.htm
      >
      > He points out the following:
      >
      > 080 Rezervy: Provisions; subtotal of 081 + 082 + 083)
      >
      > This item contains both provisions (liabilities) and allowances
      > (contra assets). The reason is that Czech accounting does not
      > recognize allowances and does not allow a contra-line item treatment
      > for these items.
      >
      > Note: there is also a semantic problem. Since the Czech word
      > "rezervy" is often erroneously
      > translated into English as "reserves," it makes it appear that this
      > is an equity item whereas,
      > in fact, it is a liability.
      >
      >
      > Note also:
      > ---------------
      > 071 Fondy ze zisku: Reserves (subtotal of 072 + 073 + 074)
      >
      > Unfortunately, the Czech term "fondy" is usually translated into
      > English as "funds" so the word-for-word translation of this item is
      > often "funds from profits."
      >
      > This, since fondy are actually reserves (appropriated retained
      > earnings) not funds (restricted assets), is merely a translation
      > error. Thus, whenever the term "funds" in a translation seems to be
      > referring to an equity account, the translator simply made an error.
      >
      > M.
      >
      >
      >
      >
      >
      >
      > Czechlist: http://groups.yahoo.com/group/Czechlist
      > Post message: Czechlist@yahoogroups.com
      >
      > Your use of Yahoo! Groups is subject to
      http://docs.yahoo.com/info/terms/
      >
    • Jirka Bolech
      ... I don t recall the original thread, but to me accounting is like a foreign language within a language where a lot of words take new meanings, whether in
      Message 2 of 12 , Nov 3, 2007
        Robert Mladek wrote:

        > Better late than never...

        I don't recall the original thread, but to me accounting is like a foreign
        language within a language where a lot of words take new meanings, whether
        in English or Czech. I first encountered Robert's book, Svetove ucetnictvi,
        in 2000 and it has been the best resource of accounting terms for me since
        then. Thank you, Robert, for your terrific work...

        Jirka Bolech
      • robert.mladek
        You re welcome. I m glad you liked it. BTW, I ve published several editions. The latest two are available online (free of charge) at www.gaap.cz. ... foreign
        Message 3 of 12 , Nov 6, 2007
          You're welcome. I'm glad you liked it.

          BTW, I've published several editions.

          The latest two are available online (free of charge) at www.gaap.cz.

          --- In Czechlist@yahoogroups.com, "Jirka Bolech" <jirka.bolech@...> wrote:
          >
          > Robert Mladek wrote:
          >
          > > Better late than never...
          >
          > I don't recall the original thread, but to me accounting is like a
          foreign
          > language within a language where a lot of words take new meanings,
          whether
          > in English or Czech. I first encountered Robert's book, Svetove
          ucetnictvi,
          > in 2000 and it has been the best resource of accounting terms for me
          since
          > then. Thank you, Robert, for your terrific work...
          >
          > Jirka Bolech
          >
        • Jirka Bolech
          ... I know. Great job! Jirka Bolech ... foreign ... whether ... ucetnictvi, ... since ... Translators tricks of the trade: http://czeng.wetpaint.com/ Yahoo!
          Message 4 of 12 , Nov 7, 2007
            > The latest two are available online (free of charge) at www.gaap.cz.

            I know. Great job!

            Jirka Bolech







            --- In Czechlist@yahoogroups.com, "Jirka Bolech" <jirka.bolech@...> wrote:
            >
            > Robert Mladek wrote:
            >
            > > Better late than never...
            >
            > I don't recall the original thread, but to me accounting is like a
            foreign
            > language within a language where a lot of words take new meanings,
            whether
            > in English or Czech. I first encountered Robert's book, Svetove
            ucetnictvi,
            > in 2000 and it has been the best resource of accounting terms for me
            since
            > then. Thank you, Robert, for your terrific work...
            >
            > Jirka Bolech
            >




            Translators' tricks of the trade:
            http://czeng.wetpaint.com/





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