Glossary entry (derived from question below)
German term or phrase:
Schecks (specific context - just need explanation/opinion)
English translation:
Cheques/checks (depending on which side of the pond....)
Added to glossary by
Alison Schwitzgebel
Jun 20, 2003 17:59
21 yrs ago
7 viewers *
German term
United States
Schecks (specific context - just need explanation/opinion)
German to English
Bus/Financial
Accounting
accounting
This is an item in a balance sheet:
Kassenbestand, Bundesbankguthaben, Guthaben bei Kreditinstituten und Schecks
Since these are itemized in the original, I don't think I want to use the lump-all "cash and cash equivalents" (although maybe that is the better idea!), and was wondering if anyone can explain to me how checks can be an asset. Surely they're not referring to the stock of printed checks. Could these be assets in the form of checks received from customers, etc.?
Is this a common breakdown in balance sheets?
Thanks very much!
Kassenbestand, Bundesbankguthaben, Guthaben bei Kreditinstituten und Schecks
Since these are itemized in the original, I don't think I want to use the lump-all "cash and cash equivalents" (although maybe that is the better idea!), and was wondering if anyone can explain to me how checks can be an asset. Surely they're not referring to the stock of printed checks. Could these be assets in the form of checks received from customers, etc.?
Is this a common breakdown in balance sheets?
Thanks very much!
Proposed translations
(English)
| 5 | Cheques/checks (depending on which side of the pond....) |
Alison Schwitzgebel
|
| 4 +1 | Checks (from customers) are considered to be "receivables" |
William Stein
|
Proposed translations
24 mins
Alison Schwitzgebel
France
France
Native in German
&
English
Specializes in field
France
Words that work
Native in: English 
, German
Works in: German to English, Germanic(Other) to English, French to English
Related KudoZ points
:
346
Selected
Cheques/checks (depending on which side of the pond....)
Kassenbestand, Bundesbankguthaben, Guthaben bei Kreditinstituten und Schecks
Your full translation will be "cash-in-hand, central bank balances, bank balances and cheques"
HTH
Alison
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Note added at 2003-06-20 18:25:15 (GMT)
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I\'m taking a guess that these are US GAAP accounts - use \"marketable securites\" for your Wertpapiere....
These will all be classified as current receivables - i.e. they can readily be turned into cash.
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Note added at 2003-06-20 18:31:51 (GMT)
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Yes, this is a very common balance sheet item.
Here are some good glossary definitions:
\"Asset
An asset is anything that has value that helps an organization provide its services to clients. Examples of assets include: cash, land, buildings, equipment, inventories (of supplies or goods for sale), furniture, and money owed to the organization (\"receivables\"). See \"Fixed Assets\" and \"Current Assets.\" \"
\"Current or Short-Term Assets
Assets that are typically used within the space of a year, such as cash and office and medical supplies. \"
http://erc.msh.org/fpmh_english/gloss/gloss_9.html
\"Current Assets
Cash, accounts receivable, inventory, and other assets that are likely to become cash within a year. Strong businesses usually have lots of current assets, although these can be a drag on performance. \"http://moneycentral.msn.com/investor/glossary/glossary.asp?T...
\"Current assets
Value of cash, accounts receivable, inventories, marketable securities and other assets that could be converted to cash in less than 1 year. \" http://www.forbes.com/tools/glossary/search.jhtml?term=curre...
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Note added at 2003-06-20 18:35:36 (GMT)
--------------------------------------------------
To answer your other question in your comment: (ooops, just realized I meant to write current assets above, but wrote current receivables instead... I guess it\'s getting late) these are not receivables - but actual assets. Cash is an asset, a bank balance is an asset, and a check is also an asset (even if you haven\'t cashed it yet). Roughly speaking, receipt of a check means that you have received payment - a receivable is an outstanding invoice. So if you\'ve received the check on a bill, the bill is no longer a receivable and the check is an asset.
HTH and hasn\'t confused you even more.
A.
Your full translation will be "cash-in-hand, central bank balances, bank balances and cheques"
HTH
Alison
--------------------------------------------------
Note added at 2003-06-20 18:25:15 (GMT)
--------------------------------------------------
I\'m taking a guess that these are US GAAP accounts - use \"marketable securites\" for your Wertpapiere....
These will all be classified as current receivables - i.e. they can readily be turned into cash.
--------------------------------------------------
Note added at 2003-06-20 18:31:51 (GMT)
--------------------------------------------------
Yes, this is a very common balance sheet item.
Here are some good glossary definitions:
\"Asset
An asset is anything that has value that helps an organization provide its services to clients. Examples of assets include: cash, land, buildings, equipment, inventories (of supplies or goods for sale), furniture, and money owed to the organization (\"receivables\"). See \"Fixed Assets\" and \"Current Assets.\" \"
\"Current or Short-Term Assets
Assets that are typically used within the space of a year, such as cash and office and medical supplies. \"
http://erc.msh.org/fpmh_english/gloss/gloss_9.html
\"Current Assets
Cash, accounts receivable, inventory, and other assets that are likely to become cash within a year. Strong businesses usually have lots of current assets, although these can be a drag on performance. \"http://moneycentral.msn.com/investor/glossary/glossary.asp?T...
\"Current assets
Value of cash, accounts receivable, inventories, marketable securities and other assets that could be converted to cash in less than 1 year. \" http://www.forbes.com/tools/glossary/search.jhtml?term=curre...
--------------------------------------------------
Note added at 2003-06-20 18:35:36 (GMT)
--------------------------------------------------
To answer your other question in your comment: (ooops, just realized I meant to write current assets above, but wrote current receivables instead... I guess it\'s getting late) these are not receivables - but actual assets. Cash is an asset, a bank balance is an asset, and a check is also an asset (even if you haven\'t cashed it yet). Roughly speaking, receipt of a check means that you have received payment - a receivable is an outstanding invoice. So if you\'ve received the check on a bill, the bill is no longer a receivable and the check is an asset.
HTH and hasn\'t confused you even more.
A.
4 KudoZ points awarded for this answer.
Comment: "Thanks Allison for the excellent explanation. Makes perfect sense. I knew I just wasn't thinking it through properly! I know it's too early to be as brain dead as I seem at the moment, but we're such creatures of habit, when we see something unfamiliar we put up a mental block and make things harder on ourselves than they need to be. Or is it just me :-)
Thanks again to you both!
"
+1
5 mins
William Stein
Costa Rica
Costa Rica
Native in English
Specializes in field
Costa Rica
Translations that read like originals
Native in: English (Variants: UK, US) 
Works in: French to English, German to English, Spanish to English, and 3 more.
Related KudoZ points
:
52
Checks (from customers) are considered to be "receivables"
Receivables are bills that are going to be collected and therefore considered to be assets:
Financial Reporting and Accounts Receivables - Receipt Centers - ...
Financial Reporting and Accounts Receivables. ... All checks received as payments of University
Invoices (Form JVS-3) should be forwarded to the Accounts Receivable ...
www.bas.ncsu.edu/procman-a/a3-3.htm
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Note added at 2003-06-20 18:09:28 (GMT)
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Here\'s a good general explanation:
PDF]CHAPTER 7 - Cash and Receivables
File Format: PDF/Adobe Acrobat - View as HTML
... 1) and receivables (Section 2). Cash and receivables represent two of the most liquid of assets. ... such as money orders, cashiers\' checks, personal checks ...
www.olemiss.edu/courses/accy303/Chapt7.pdf
Financial Reporting and Accounts Receivables - Receipt Centers - ...
Financial Reporting and Accounts Receivables. ... All checks received as payments of University
Invoices (Form JVS-3) should be forwarded to the Accounts Receivable ...
www.bas.ncsu.edu/procman-a/a3-3.htm
--------------------------------------------------
Note added at 2003-06-20 18:09:28 (GMT)
--------------------------------------------------
Here\'s a good general explanation:
PDF]CHAPTER 7 - Cash and Receivables
File Format: PDF/Adobe Acrobat - View as HTML
... 1) and receivables (Section 2). Cash and receivables represent two of the most liquid of assets. ... such as money orders, cashiers\' checks, personal checks ...
www.olemiss.edu/courses/accy303/Chapt7.pdf
Discussion
Altogether there are 4 sections shown under current assets:
1-Vorr�te
2-Forderungen und andere Verm�gensgegenst�nde
3-Wertpapiere
4-this one in question
Since there is a separate section for A/R, I would think checks received on customer accounts would be included in that sum. Perhaps these are checks received that do not relate to trade accounts receivable...?