Glossary entry (derived from question below)
Italian term or phrase:
riversamento fondi
English translation:
reversal of provisions
Added to glossary by
Joanna M Cas (X)
Oct 8, 2018 11:07
5 yrs ago
5 viewers *
Italian term
riversamento fondi
Italian to English
Bus/Financial
Accounting
financial report - provisions/reserves
Heading to a section in a relazione finanziaria consolidata:
‘ACCANTONAMENTI A FONDI RISCHI, RIVERSAMENTO FONDI’
In the table that follows, we have a section and figures for ‘accantonamenti fondi rischi ed oneri’ and a section and figures for ‘riversamento fondo rischi ed oneri’.
I’m a bit confused. If this ‘riversamento’ is an actual transfer or payment of money that exists, then if I’ve understood correctly, the ‘fondi’ it’s going into must be reserves (as opposed to provisions) but that doesn’t tie in with the heading to the section in the table: ‘riversamento fondo rischi ed oneri’, which is a provision. Also, I'm not a qualified accountant but I'm not sure that reserves and provisions can simply be lumped together like this in any event, as they are different beasts, which suggests I might have missed something.
‘ACCANTONAMENTI A FONDI RISCHI, RIVERSAMENTO FONDI’
In the table that follows, we have a section and figures for ‘accantonamenti fondi rischi ed oneri’ and a section and figures for ‘riversamento fondo rischi ed oneri’.
I’m a bit confused. If this ‘riversamento’ is an actual transfer or payment of money that exists, then if I’ve understood correctly, the ‘fondi’ it’s going into must be reserves (as opposed to provisions) but that doesn’t tie in with the heading to the section in the table: ‘riversamento fondo rischi ed oneri’, which is a provision. Also, I'm not a qualified accountant but I'm not sure that reserves and provisions can simply be lumped together like this in any event, as they are different beasts, which suggests I might have missed something.
Proposed translations
(English)
| 4 +1 | reversal of provisions |
CristianaC
|
Proposed translations
+1
9 hrs
CristianaC
United Kingdom
United Kingdom
Native in Italian
&
English
Specializes in field
United Kingdom
Finance-legal specialist- Ivy League MBA
Native in: Italian 
, English
Works in: English to Italian, Italian to English, French to Italian, and 2 more.
Related KudoZ points
:
197
Selected
reversal of provisions
riversamento is the contrary of "allocating" a provision.
simply some amounts that had been set aside to the provision for risks, have now been reversed
reserves are equity items while provisions are liabilities, so you should not lump them together
e.g
"Gli accantonamenti ai fondi rischi ed oneri, positivi per 10 milioni di euro, comprendono il riversamento a conto economico dell’accantonamento
effettuato nel 2015 per circa 12 milioni di euro a fronte della contribuzione aggiuntiva per le quattro banche in risoluzione, richiamata dal fondo di risoluzione nazionale a fine 2016. "
ie. the allocation that was made in 2015 is now being reversed
simply some amounts that had been set aside to the provision for risks, have now been reversed
reserves are equity items while provisions are liabilities, so you should not lump them together
e.g
"Gli accantonamenti ai fondi rischi ed oneri, positivi per 10 milioni di euro, comprendono il riversamento a conto economico dell’accantonamento
effettuato nel 2015 per circa 12 milioni di euro a fronte della contribuzione aggiuntiva per le quattro banche in risoluzione, richiamata dal fondo di risoluzione nazionale a fine 2016. "
ie. the allocation that was made in 2015 is now being reversed
4 KudoZ points awarded for this answer.
Comment: "makes perfect sense - thank you!"
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