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  3. Law: Taxation & Customs

realisasjonsprinsippet

English translation: the realisation principle

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Norwegian term or phrase:realisasjonsprinsippet
English translation:the realisation principle
Entered by: brigidm

07:20 Sep 22, 2006
Norwegian to English translations [PRO]
Bus/Financial - Law: Taxation & Customs
Norwegian term or phrase: realisasjonsprinsippet
The text is about tax and possible tax deductions - offshore activity. Sentence reads: "Kostnadene fradragsføres etter realisasjonsprinsippet (betyr løpende eller det året en faktura mottas)". I could only find one or two sources where this was actually translated as "realisation principle", and very few hits for the term on Norwegian sites. Do I smell a rat? This link explains the term: http://www.statsbudsjettet.dep.no/2006_tilleggsproposisjon/o...
brigidm
Norway
Local time: 03:22
the realisation principle
Explanation:
:o)
Selected response from:

Sven Petersson
Sweden
Local time: 03:22
Grading comment
There seems to be some discussion about the definition "realisation" in different countries, and that's why I wanted a second opinion. But I think it's safe to use now. I would have liked to split the points between you and Clare , but thanks anyway to all of you!
4 KudoZ points were awarded for this answer



Summary of answers provided
5the realisation principle
Sven Petersson
4realisation concept
Clare Barnes
4when-arising basis
Adrian MM. (X)


  

Answers


9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
realisation concept


Explanation:
Quite a widely used term. Quote from the link below:

Realisation
The realisation concept helps the accountant to determine the point at that he feels that a transaction is certain enough for the profit to be made on it to be calculated and taken to the profit and loss account. Realisation occurs when a sale is made to a customer. The basic rule is that revenue is created at the moment a sale is made, and not when the account is later settled by cheque or by cash.


    Reference: http://www.duncanwil.co.uk/concepts.htm
Clare Barnes
Sweden
Local time: 03:22
Native speaker of: Native in EnglishEnglish
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32 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
when-arising basis


Explanation:
(income) on a when-earned basis
(costs) on a when-incurred basis

cf. also earnings received and earnings entitlement basis.

The terms realisation and disposal are not really helpful in an income vs. expenditure context.



Example sentence(s):
  • Realisasjonsprinsippet innebærer at inntekter tidfestes når foretaket får *ubetinget rett til dem*, og at kostnader tilsvarende tidfestes når det oppstår en ...
  • Maintenance 1/3rd divided with the other flat owners on an as and when arising basis. Exact figures to be advised. Property reference: jslr_RIC060023 ...

    Reference: http://www.deloitte.com/dtt/article/0,1002,sid%253D31958%252...
    Reference: http://www.primelocation.com/.../browse/all/h3/uk/england/lo...
Adrian MM. (X)
Local time: 03:22
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 23
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37 mins   confidence: Answerer confidence 5/5
the realisation principle


Explanation:
:o)


    Reference: http://ec.europa.eu/internal_market/accounting/docs/markt-19...
Sven Petersson
Sweden
Local time: 03:22
Native speaker of: Native in SwedishSwedish, Native in EnglishEnglish
PRO pts in category: 4
Grading comment
There seems to be some discussion about the definition "realisation" in different countries, and that's why I wanted a second opinion. But I think it's safe to use now. I would have liked to split the points between you and Clare , but thanks anyway to all of you!
Login to enter a peer comment (or grade)



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