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English to Portuguese translations [PRO] Bus/Financial - Accounting / global cost benchmarking
English term or phrase:setoff
As the result of damage, all repairs are not entitled to be booked as fixed assets (CAPEX or capital expenditures). These are to be considered as operational expenses (OPEX) and must be entirely included to the GCB industrial costs without any setoff with corresponding insurance claim recovery. The recovery of insurance claim shall be recognized as reduction from P&L EBIT Cost in the month/year of claim acceptance.