risconti

Risconti is an Italian term with multiple related meanings in commerce and accounting. In everyday usage, it refers to discounts or rebates granted in commercial transactions, often as concessions for bulk purchases, early payment, or promotional terms. Such discounts can appear on invoices as price reductions or as credits issued to customers.

In accounting, risconti appears in the technical term ratei e risconti, which describes accrual and deferral adjustments used to align revenues and expenses with the correct reporting period. Risconti are deferrals or accrual entries that anticipate income or costs to future periods. They are typically categorized as risconti attivi and risconti passivi.

- Risconti attivi are assets representing amounts of revenue or prepaid costs that will affect future periods. They reflect income still to be earned or costs already paid that will be recognized as expenses in later periods.

- Risconti passivi are liabilities representing amounts of income received in advance or costs incurred but not yet recognized, to be allocated to future periods.

The concept helps ensure that financial statements reflect economic activity in the period to which it relates, rather than when cash changes hands. While common in Italian accounting practice, the exact treatment of risconti can vary with national standards and the specific chart of accounts used by a company.

See also: risconto, ratei e risconti.