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Since everybody is telling me that the links I have provided are not working, you can get to them yourself simply by typing: "revision forecast" costs, and/or "forecast revision" costs, separately, in the Google search box. However, you will need to add the inverted commas before and after revision forecast and forecast revision, in the way that I have.
Unfortunately, we are not allowed to change our answers after a discussion session. If everybody started doing that, there would be chaos and Kudoz would become a circus. To be really honest with you, I even disagree with ‘price adjustment’, firstly because ‘price adjustment’ is a translation of ‘προσαρμογή’ or ‘ρύθμιση τιμής’ and secondly, because no-one has told us yet that the value refers to a price, and it would therefore be dangerous to assume that it does. [Frankly, I don't think that it does refer to a price. I am more inclined to suspect that it refers to a cost].
with your comment about including "clause" in my answer, after having second thoughts. Because although that's where the conditions of adjusting costs are mentioned in a public contract, it doesn't need to be stated in this specific context. If I could change my answer, it would be just "price adjustment". I believe it makes sense in this case.
I am sorry, but I disagree with you. The only reason why I have not posted a ‘disagree’ to your answer is because I regard it as being disrespectful to do so. I see no reason to translate ‘προβλέψη’ in any way other than ‘forecast’, ‘predicted’ or ‘anticipated’, for this term. If you look at the brief list that Eliza has provided under her question of ΓΕ & ΟΕ:, Απρόβλεπτα:, Πρόβλεψη αναθεώρησης:. Άθροισμα:, ΦΠΑ:, which all refer to values, I see no reason or justification to suspect that πρόβλεψη αναθεώρησης refers to anything other than a value. In fact, Eliza, herself, has already mentioned that this has a value after the colon. Also, I see no reason to translate ‘αναθεώρηση’ as escalation and de-escalation when all accounting and financial dictionaries that I have translate it as ‘revision’, and when the terms ‘revision forecast’ and ‘forecast revision’ are very widely used on both sides of the Atlantic.
If I were to have to choose between ‘anticipated revision’ and ‘escalation clause’, I would most definitely choose ‘anticipated revision’ because ‘anticipated revision’ describes ‘πρόβλεψη αναθεώρησης’ equally well in layman’s terms. If you will permit me to make a suggestion, why not see how Google Translate translates this term? Google translate is sometimes pretty accurate in translating terms such as this one. I admit that it is very unwise to rely solely upon Goodle's translation recommendations without cross-checking them with other sources, but they can frequently provide an additional confirmation as to whether the interpretation one is considering is correct or not. Also, if my links still don't work, please Google: "revision forecast" costs, and "forecast revision" costs, precisely in those ways [with the inverted commas where I have put them], and you will then see very many examples of how these terms are used and what these terms refer to. Have a nice day!
The only way that I can really improve upon the description that I gave you yesterday evening would be to describe ‘revision forecast’ [in an accounting context] to be the ‘forecast, anticipated or predicted revision value of a cost’. It is unnecessary to add the word ‘value’, it would be understood. It is also only natural that the cost that this refers to would be much lower than any other cost being mentioned, because it is the value of the revision and not the value of any total. I am also very surprised that you regarded the concept of cost escalation to work best for you, because, frankly, I regard the answer of ‘escalator clause’ to be incorrect for the following reasons: firstly, because ‘πρόβλεψη αναθεώρησης’ refers to a value and not to a clause, and, secondly, because ‘αναθεώρηση’ can refer to an increase or a decrease in relation to a previous fiscal period and an escalator or escalation can only imply a continuous increase in a cost. [Continued above]
Good morning, I am sorry to hear that you had trouble with the links I provided. They worked for me yesterday and this morning, so I cannot understand why they did not work for you. Perhaps, they will work for you after you re-start your PC. However, it may have been God’s way of preventing you from seeing the first internet reference I provided, which was totally irrelevant, and which I was unable to remove without providing my answer again from scratch, which Proz would probably not have permitted to do, since I had already done this once when I noticed that I had written ‘revision’ as ‘revsion’. Anyhow, I have now accessed my accounting dictionaries. According to the Αγγλοελληνικό-Ελληνοαγγλικό Λεξικό Λογιστικής by Κωνσταντίνου Κάντζου, MBA, Ph. D., which is recognised as being a reliable accounting sector dictionary, and other Greek/English/Greek Commercial and Financial dictionaries, ‘πρόβλεψη’ [in an accounting context] = ‘forecast’, and ‘αναθεώρηση. [in an accounting context] = ‘revision’. Kantzou’s dictionary does not give any alternative interpretations for either word. [Continued above]
Hi Peter! When I said the links don't work for me, I meant it literally ;) As in, they seem to be broken! Every time I click on one, I get a message saying 'this page does not exist' or something akin to that. Thanks for your help anyway!
Good evening, I am surprised that you were able to look through the links that I provided adequately carefully, so quickly. Two of the links alone provided over ten pages of examples of revision forecasts or forecast revisions, each. Describing it in other words, a forecast revision or a revision forecast [in a financial or accounting context] is a predicted or anticipated revision in price or cost or total costs. I am sorry, I am not in my office now. If you can wait until tomorrow morning, I can give you descriptions of this term from the specialised accounting dictionaries I have. [I regret that I won’t be available anymore this evening. It is already 10:00 pm in Greece and its Sunday!]
So far it seems that the concept of cost escalation posted below fits best, as all the other amounts are in the hundreds of thousands, whereas the "Πρόβλεψη αναθεώρησης" amount is only around a thousand EUR. This would make sense if this were an estimate of the amount by which the cost would increase (due to inflation etc).
Peter, none of the links to the resources you posted work for me. Could you provide a definition of forecast revision? (or revision forecast)?
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