Glossary entry (derived from question below)
German term or phrase:
Anschaffungskosten unter Beachtung des strengen Niederstwertprinzips
English translation:
measured at cost following the strict principle of lower of cost or market value
- The asker opted for community grading. The question was closed on 2013-07-04 19:54:18 based on peer agreement (or, if there were too few peer comments, asker preference.)
Jul 1, 2013 09:43
10 yrs ago
5 viewers *
German term
United Kingdom
Dedicated to quality
Native in: English 
, German
Works in: German to English, English to German, German
Anschaffungskosten unter Beachtung des strengen Niederstwertprinzips
German to English
Bus/Financial
Accounting
In the annual financial statement:
Vermögensgegenstände des Umlaufvermögens wurden zu ***Anschaffungskosten unter Beachtung des strengen Niederstwertprinzips*** bewertet.
OK I feel a bit stupid here.
I have always understood "Anschaffungskosten" as "(purchase) cost" and "unter Beachtung des strengen Niederstwertprinzips" as "the lower of cost or market".
Now obviously, "Items of current assets are valued at purchase cost at the lower of cost or market." doesn't make any sense at all.
Suggestion?
Vermögensgegenstände des Umlaufvermögens wurden zu ***Anschaffungskosten unter Beachtung des strengen Niederstwertprinzips*** bewertet.
OK I feel a bit stupid here.
I have always understood "Anschaffungskosten" as "(purchase) cost" and "unter Beachtung des strengen Niederstwertprinzips" as "the lower of cost or market".
Now obviously, "Items of current assets are valued at purchase cost at the lower of cost or market." doesn't make any sense at all.
Suggestion?
Proposed translations
(English)
Proposed translations
+3
37 mins
Sebastian Witte
Germany
Germany
Native in German
Specializes in field
Germany
Responsive with well-rounded knowledge
Native in: German (Variant: Germany) 
Works in: English to German, German to English, Spanish to German, and 5 more.
Related KudoZ points
:
74
Selected
measured at cost taking into account the principle of lower of cost or market value
Current assets were measured at cost taking into account the principle of lower of cost or market value
Unter Beachtung can be in compliance/accordance with. I am not sure whether I would use these like that here though.
A real expert translation m i g h t read "Current assets were measured at
the lower of cost or market value", but this is then something for Ted or Robin to decide ...
There is also the expression to carry at cost.
But then, I can only do what I can do.
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Note added at 39 mins (2013-07-01 10:22:35 GMT)
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strenges Niederstwertprinzip: strict principle of lower of cost or market value
Unter Beachtung can be in compliance/accordance with. I am not sure whether I would use these like that here though.
A real expert translation m i g h t read "Current assets were measured at
the lower of cost or market value", but this is then something for Ted or Robin to decide ...
There is also the expression to carry at cost.
But then, I can only do what I can do.
--------------------------------------------------
Note added at 39 mins (2013-07-01 10:22:35 GMT)
--------------------------------------------------
strenges Niederstwertprinzip: strict principle of lower of cost or market value
Peer comment(s):
| agree |
RobinB
: Yes, the point being of course that there is/was also a "less strict" principle of lower of cost or market value. And you correctly translate "bewerten" as "measure", not "value". Thank you for paying attention in my lectures and seminars, Sebastian!
1 hr
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Those seminars have been a pleasure and so was that day at City U.
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| agree |
philgoddard
: I prefer your more concise version. The principle wasn't really "taken into account", it was followed.
2 hrs
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Thank you
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| agree |
Tatjana Dujmic
: I'd agree with Phil re. the more concise version
23 hrs
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Thanks, Tatjana
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4 KudoZ points awarded for this answer.
Comment: ""measured at cost following the strict principle of lower of cost or market value"
I couldn't get my head around that at all, it seemed like such a contradiction to me - but of course, the principle is "applied" first and in this case results in the "
5 hrs
Claudia Hoffmann
Germany
Germany
Native in German
Specializes in field
Germany
Getting language to you
Native in: German
Works in: English to German, German to English, Arabic to German, and 2 more.
Related KudoZ points
:
14
acquisition cost under consideration strictly at the lower cost or market
acquisition cost under consideration strictly at the lower cost or market
8 hrs
Michael Martin, MA
United States
United States
Native in German
&
English
United States
Creativity wins in the long run
Native in: German (Variant: Germany) , English (Variant: US)
Works in: German to English
Related KudoZ points
:
48
purchase cost, factoring in the lower of cost and market value
... valued at purchase cost, factoring in the lower of cost and market value
See link p 33
See link p 33
Discussion
"Current assets are measured at cost following the strict principle of lower of cost or market value."
In a German Balance sheet all raw materials, semi finished products, auxilliary supplies and consumables are counted, while in USGAAP only those materials, that actually get sold in the end and create cash flow are taken into account.
There's a German Wikipedia article on this... hope it helps:
https://de.wikipedia.org/wiki/Umlaufvermögen
So this might call for a comment, explaining that difference, to avoid misconceptions...
Lower of cost or market value makes sense in German, but might not sound correct for someone with a USGAAP Background...