Glossary entry (derived from question below)
English term or phrase:
off the book
English answer:
not recorded in official financial records
Added to glossary by
ahmadwadan.com
May 2, 2008 08:13
16 yrs ago
35 viewers *
English term
Saudi Arabia
English-Arabic Financial Translator
Native in: Arabic (Variant: Egyptian)
Works in: English to Arabic, Arabic to English, Arabic, and 1 more.
off the book
English
Bus/Financial
Finance (general)
Microfinance institutions (MFI)
Benefits for the Microfinance institution (MFI):
1. Receivables are off the book and cash comes in.
2. All borrower related ratios improve substantially as more borrowers are serviced at existing capital structure.
I appreciate if you give me the meaning of point 1 in plain English.
Thank you
1. Receivables are off the book and cash comes in.
2. All borrower related ratios improve substantially as more borrowers are serviced at existing capital structure.
I appreciate if you give me the meaning of point 1 in plain English.
Thank you
Responses
| 4 +8 | not recorded in official financial records |
Adele Oliveri
|
| 3 +3 | comment |
Ken Cox
|
| 5 | not in this book |
zax
|
Responses
+8
13 mins
Adele Oliveri
Italy
Italy
Specializes in field
Italy
Your financial translation expert
Native in: Italian 
Works in: English to Italian, French to Italian, Italian
Related KudoZ points
:
8
Selected
not recorded in official financial records
see: http://www.thefreedictionary.com/off the books for a definition of "off the book" and
http://www.thefreedictionary.com/receivable for a definition of receivable.
basically, it means that transactions related to microfinance are not recorded in the company's accounts.
http://www.thefreedictionary.com/receivable for a definition of receivable.
basically, it means that transactions related to microfinance are not recorded in the company's accounts.
Peer comment(s):
| neutral |
BusterK
: agree with Ken, this doesn't sound at all aound practice...// official is IMO awkward since it suggests unofficial books which is not what you mean with specific provisions.
20 mins
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|
"Official" is not meant to imply existing of "unofficial" records, just the company accounts. If it sounds ambiguous or redundant, it could well be dropped.
|
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| agree |
Jonathan MacKerron
: my take as well "receivables are not recorded, whereas cash is"
26 mins
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thank you Jonathan :-)
|
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| agree |
Victoria Porter-Burns
:
40 mins
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thank you Victoria :-)
|
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| agree |
Mehmet Hascan
: http://www.businessdictionary.com/definition/off-the-book.ht...
53 mins
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thank you İrlandalı :-)
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| agree |
P Waters
6 hrs
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thank you Lily :-)
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| agree |
BrettMN
: This is certainly what the phrase means, but most companies wouldn't advertise openly that they would do such a thing, so you might double check the intended meaning with the client.
7 hrs
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thanks Brett :-)
|
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| agree |
Clare-Louise Smith (X)
: agree with meaning, however as a native speaker of British English, I'm more familiar with the phrase "to not put XXX THROUGH the books", i.e. to omit monies from the written record of monies received by a company.
10 hrs
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thank you Clare-Louise :-)
|
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| agree |
Dana Rinaldi
11 hrs
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grazie Dana!
|
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| agree |
ErichEko ⟹⭐
18 hrs
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thank you ;-)
|
4 KudoZ points awarded for this answer.
Comment: "Thank you Adele and all."
+3
27 mins
comment
How confident are you of the English skills (understanding) of the author of the source text? I'm not a financial expert, but having cash come in while receiveables are not booked to the company's financial accounts doesn't sound like something any accountant or auditor would approve.
Perhaps the intended meaning is that accounts receivable (amounts due from customers) are transferred from the company's account to the account of the financing institution (so the latter assumes the risks associated with collection and (non)payment), while the company receives income -- i.e. the instutution finances the company's accounts receivable.
Perhaps the intended meaning is that accounts receivable (amounts due from customers) are transferred from the company's account to the account of the financing institution (so the latter assumes the risks associated with collection and (non)payment), while the company receives income -- i.e. the instutution finances the company's accounts receivable.
Peer comment(s):
| neutral |
Gemma Monco Waters
: Ever heard of tax evasion? Ask our new elected prime minister. He can give you some useful information on the matter.
28 mins
|
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true enough -- of course, you need a suitable infrastucture (which Italy apparently has, sadly enough)
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| neutral |
Mehmet Hascan
: this practice is used in order to hide the debts and inflate profits (or to hide massive debt and to inflate the value of the company's stock)
50 mins
|
| agree |
Jack Dunwell
: This is precisely the position of a moneylender rather than a Microfinance organisation, see Grameen's site. All of this cynical stuff is nonsense
9 hrs
|
| agree |
B D Finch
: The whole of the source text is poorly written, not to mention financially dodgy.
1 day 1 hr
|
| agree |
Phong Le
2 days 2 hrs
|
22 hrs
not in this book
but recorded in another one.
Legality is the Author's problem.
Legality is the Author's problem.
Discussion