Glossary entry (derived from question below)
Dutch term or phrase:
Wegmaking van activa
English translation:
spiriting /syphoning / of assets out of Belgium
Added to glossary by
John O'Brien
Oct 29, 2020 08:32
3 yrs ago
19 viewers *
Dutch term
Wegmaking van activa
Dutch to English
Law/Patents
Law (general)
Debt enforcement
This is court decision on the attachment of assets.
In a list of exhibits, one exibit is "E-mails betreffende poging tot wegmaking van activa uit Belgie";
Is this simply removal or maybe even embezzlement of assets.
All help apprciated.
Thank you
In a list of exhibits, one exibit is "E-mails betreffende poging tot wegmaking van activa uit Belgie";
Is this simply removal or maybe even embezzlement of assets.
All help apprciated.
Thank you
Proposed translations
(English)
3 | spiriting /syphoning / of assets out of Belgium | Adrian MM. |
3 +3 | make assets disapper/obfuscate/conceal | Marijke Singer |
4 | concealment of assets | Cillie Swart |
3 | disposal of assets | Michael Beijer |
References
refs | Michael Beijer |
Proposed translations
1 day 2 hrs
Dutch term (edited):
Wegmaking van activa uit Belgie
Selected
spiriting /syphoning / of assets out of Belgium
I agree with the asker's suggestion of 'removal'. Query: whether spiriting vs. siphon / syphon out of the country works in the USA, and not only for Southern Comfort.
Compare and contrast Wegschaffung von Aktiva in DEU and note that the text goes on to read out of Belgium.
Perhaps dissipation of assets - cf. IATE's misappropriation and concealment might have worked but for the geographical allusion.
Compare and contrast Wegschaffung von Aktiva in DEU and note that the text goes on to read out of Belgium.
Perhaps dissipation of assets - cf. IATE's misappropriation and concealment might have worked but for the geographical allusion.
Example sentence:
verduistering COM verdonkering COM wegmaking COM en misappropriation COM
4 KudoZ points awarded for this answer.
Comment: "Thanks Adrian"
+3
11 mins
make assets disapper/obfuscate/conceal
I think they mean that the assets do not appear on the books.
Seehttps://www.accountingtoday.com/news/unveiling-the-mystery-o...
"We identified over 250 fictitious entities used to purchase properties and ultimately obfuscate assets from the trustee. Profits from the sale of the properties were concealed under the guise of substitute purchasers and also through hundreds of fictitious bank, brokerage and other accounts. "
Seehttps://www.accountingtoday.com/news/unveiling-the-mystery-o...
"We identified over 250 fictitious entities used to purchase properties and ultimately obfuscate assets from the trustee. Profits from the sale of the properties were concealed under the guise of substitute purchasers and also through hundreds of fictitious bank, brokerage and other accounts. "
Peer comment(s):
agree |
Michael Beijer
: I think you're probably right! (disapper > disappear :-)
28 mins
|
Thanks Michael (also for the correction!).
|
|
agree |
writeaway
: This is a really hot topic here and is in the papers/news all the time. Authorities are constantly going after people trying to hide their assets to avoid paying tax.
1 hr
|
Thanks, writeaway!
|
|
agree |
Tina Vonhof (X)
6 hrs
|
Thanks, Tina!
|
8 mins
disposal of assets
see:
"The disposal of assets involves eliminating assets from the accounting records. This is needed to completely remove all traces of an asset from the balance sheet (known as derecognition). An asset disposal may require the recording of a gain or loss on the transaction in the reporting period when the disposal occurs."
(https://www.accountingtools.com/articles/how-do-i-record-the... )
--------------------------------------------------
Note added at 10 mins (2020-10-29 08:43:54 GMT)
--------------------------------------------------
"ADVANCED BOOKKEEPING
KAPLAN PUBLISHING
Disposal of capital assets
Introduction
When a capital asset or non-current asset is disposed of there are a
variety of accounting calculations and entries that need to be made.
Firstly, the asset being disposed of must be removed from the accounting
records as it is no longer controlled. In most cases the asset will be
disposed of for either more or less than its carrying value leading to a
profit or a loss on disposal which must be accounted for.
Finally, the fact that the asset has been disposed of must be recorded in
the non-current asset register.
In most examinations you will be required to put through the accounting
entries for the disposal of a capital asset (i.e. a non-current asset) and to
record the disposal in the non-current asset register."
(https://kaplan.co.uk/docs/default-source/pdfs/study-options-... )
--------------------------------------------------
Note added at 12 mins (2020-10-29 08:45:34 GMT)
--------------------------------------------------
#########################
Juridisch-Economisch Lexicon (JurLex):
wegmaking =
being disposed of
#########################
"The disposal of assets involves eliminating assets from the accounting records. This is needed to completely remove all traces of an asset from the balance sheet (known as derecognition). An asset disposal may require the recording of a gain or loss on the transaction in the reporting period when the disposal occurs."
(https://www.accountingtools.com/articles/how-do-i-record-the... )
--------------------------------------------------
Note added at 10 mins (2020-10-29 08:43:54 GMT)
--------------------------------------------------
"ADVANCED BOOKKEEPING
KAPLAN PUBLISHING
Disposal of capital assets
Introduction
When a capital asset or non-current asset is disposed of there are a
variety of accounting calculations and entries that need to be made.
Firstly, the asset being disposed of must be removed from the accounting
records as it is no longer controlled. In most cases the asset will be
disposed of for either more or less than its carrying value leading to a
profit or a loss on disposal which must be accounted for.
Finally, the fact that the asset has been disposed of must be recorded in
the non-current asset register.
In most examinations you will be required to put through the accounting
entries for the disposal of a capital asset (i.e. a non-current asset) and to
record the disposal in the non-current asset register."
(https://kaplan.co.uk/docs/default-source/pdfs/study-options-... )
--------------------------------------------------
Note added at 12 mins (2020-10-29 08:45:34 GMT)
--------------------------------------------------
#########################
Juridisch-Economisch Lexicon (JurLex):
wegmaking =
being disposed of
#########################
Peer comment(s):
neutral |
Marijke Singer
: My issue with this is that disposal of assets is legal while wegmaking implies an illegal activity. They added 'poging' in Dutch. In other words, it failed. It may be completely innocent, but why then a court case.
6 mins
|
Very good point.
|
23 hrs
concealment of assets
Concealment of Belgian assets.
Reference comments
7 mins
Reference:
refs
Juridisch-Economisch Lexicon (JurLex):
wegmaking =
being disposed of
wegmaking =
being disposed of
Something went wrong...