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topside

English translation: term

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09:41 Oct 31, 2009
English to English translations [PRO]
Bus/Financial - Finance (general)
English term or phrase: topside
I,ve already posted this question in the EN>IT pair, but I've been suggested to ask for the meaning. Can someone explain what that word means?

Corporate will consolidate all entities both SAP and in Excel format including topside and elimination entries.

Any transactions being recorded in consolidation such as eliminations of intercompany sales gets done topside.

Thanks a lot!!
Lucia Pittau
Local time: 21:22
English translation:term
Explanation:
This is the definition from the Center for Audit Quality

“Top-side” entries are those entries that generally do not appear as entries to the general ledger and, therefore, are not subject to standard system controls. In many cases, they are produced in a spreadsheet and maintained separately from the general ledger. These entries also can be recorded after the consolidation is completed, but before the financial statements are prepared.
Selected response from:

Stephanie Ezrol
United States
Local time: 15:22
Grading comment
Yes, I think this fits with my context.
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1manual
Ali Tuna
4 +1unsupported entry
B D Finch
4 +1term
Stephanie Ezrol
3 +1top priority (matters)
Yasutomo Kanazawa
3Those that have made the grade.
Gary D
4 -1top executives / company's upper echelon
Joyce A
3top management
foghorn


Discussion entries: 2





  

Answers


14 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
top management


Explanation:
. . .

foghorn
Native speaker of: Native in TurkishTurkish, Native in EnglishEnglish
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17 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
top priority (matters)


Explanation:
According to the above context, I think topside means top priority (matters). In the first sentence, it says that the corporate will consolidate all entities both SAP and in Excel format including all the entries which are of top priority and entries which should be eliminated.

And the second sentence means elimination of intercompany sales gets done immediately, having a top priority in order of doing things.

Yasutomo Kanazawa
Local time: 04:22
Works in field
Native speaker of: Native in JapaneseJapanese

Peer comments on this answer (and responses from the answerer)
agree  chaman4723
2 hrs
  -> Thank you

agree  Veronika McLaren
3 hrs
  -> Thank you Veronika

neutral  Charlesp: nice guess.
1 day7 hrs

disagree  xxxmattbramanti: No. Topside entries are those made outside of the general ledger.
836 days
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
term


Explanation:
This is the definition from the Center for Audit Quality

“Top-side” entries are those entries that generally do not appear as entries to the general ledger and, therefore, are not subject to standard system controls. In many cases, they are produced in a spreadsheet and maintained separately from the general ledger. These entries also can be recorded after the consolidation is completed, but before the financial statements are prepared.


    Reference: http://www.thecaq.org/members/pdfs/CAQJETestingPracticeAid12...
Stephanie Ezrol
United States
Local time: 15:22
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 51
Grading comment
Yes, I think this fits with my context.

Peer comments on this answer (and responses from the answerer)
agree  Charlesp: Sounds reasonable.
1 day5 hrs
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4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
top executives / company's upper echelon


Explanation:
"Topside" is a noun that refers to the "top executives" of the company from definitions gleaned below:

From the Free Online Dictionary, I get these definitions:
top·side (tpsd)
n.
1. The surface of a ship's hull above the water line. Often used in the plural.
2. The highest position of authority.
topside [ˈtɒpˌsaɪd]
n
1. the uppermost side of anything

Both refer to uppermost parts---one of a ship, and the other of the top echelon of a company, etc.

Example sentence(s):
  • Accountability on the topside of an organization and beginning the cuts there?

    Reference: http://www.tompeters.com/dispatches/010894.php
Joyce A
Thailand
Local time: 02:22
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
disagree  Charlesp: intersting dictionar definitions, but quite apparently off point.
1 day3 hrs
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10 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
manual


Explanation:

Top-side entries: Journal entries done to adjust the books after all
normal entries are completed for the accounting period. Top-side
entries are usually scrutinized carefully by auditors for signs of
financial reporting fraud.

This definition tells us that top-side entries are manual entries. Forced entries can also be used.

http://www.scribd.com/doc/15141756/The-Essential-Accounting-... (Page 551)



Example sentence(s):
  • The auditors did not design or implement procedures to review top-side entries, evidently relying on management's representation that there were no significant top-side entries--even though fraud via top-side entries took place just one year earlier.

    Reference: http://74.125.93.132/search?q=cache:uyrXPhsJk_oJ:findarticle...
Ali Tuna
United States
Local time: 15:22
Native speaker of: Native in EnglishEnglish, Native in TurkishTurkish

Peer comments on this answer (and responses from the answerer)
agree  Charlesp: I will guess that this one sounds the most reasonable.
21 hrs
  -> Thanks.
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1 day3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
unsupported entry


Explanation:
Putting a transaction in the main figures without providing justification.

This appears to be closely related to an illegal accounting practice:

"TOPSIDE ACCOUNTING ADJUSTMENTS/DEVICES is an illegal practice to where accountants manipulate its accounting practices to close gaps between actual operating results and results reported to the investing public. Accountants then falsely represent to the public that their audits were conducted in accordance with generally accepted auditing standards (GAAS) and that an entity's financial reports fairly represent the entity's financial condition and were prepared in accordance with generally accepted accounting principles (GAAP)."
http://www.ventureline.com/Glossary_T.asp




    Reference: http://books.google.co.uk/books?id=dwRy48iSwD0C&pg=PT158&lpg...
B D Finch
France
Local time: 21:22
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
agree  Pham Huu Phuoc
13 hrs
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2 days2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Those that have made the grade.


Explanation:
All Entities which are topside are ones which have made the grade and have moved onto the next stage, came out ontop of the rest.

This next stage is handled by an up-line group or a group higher up in the organization (topside) and they will now handle any transactions being recorded in consolidation such as eliminations of intercompany sales.

"There must have been a problem with a selection of what went topside and what was eliminated, so now the company wants all applications and transactions done higher up"



Gary D
Local time: 05:22
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
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