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Wesentlichkeitsgründe

English translation: paraphrase s.b. (using [im]material)

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03:13 Feb 13, 2007
German to English translations [PRO]
Bus/Financial - Accounting / Audit report
German term or phrase: Wesentlichkeitsgründe
Ferner hat X zwei Lieferanten (VISA-Cards sowie Telecom) das Recht eingeräumt, Lastschrifteinzüge vorzunehmen. Aus Wesentlichkeitsgründen haben wir auf eine Analyse der diesbezüglichen Prozesse verzichtet.
Lorna O'Donoghue
Local time: 11:58
English translation:paraphrase s.b. (using [im]material)
Explanation:
In (IAS/IFRS) accounting, the Wesentlichkeitsgrundsatz is the principle of materiality.

See http://www.iasplus.com/standard/ias01.htm
"Materiality and Aggregation

Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if the are individually immaterial. [IAS 1.29]"

See also explanation at
http://esgb.comdirect.de/comdirect/gb2005/de/download/glossa... (p. 7).

In your case, the sentence "Aus Wesentlichkeitsgründen haben wir auf eine Analyse der diesbezüglichen Prozesse verzichtet." means just the opposite, i.e. the transactions/items were considered immaterial and thus did not warrant any analysis.

Suggested translation:
We did not analyse the related processes due to the immaterial nature of the underlying transactions/items.
Selected response from:

Steffen Walter
Germany
Local time: 12:58
Grading comment
Thanks for all the help.
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +1paraphrase s.b. (using [im]material)
Steffen Walter
4for practical reasons
David Hollywood
4reasons of materiality/substantiality/essentiality
swisstell


  

Answers


22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Wesentlichkeitsgründen
reasons of materiality/substantiality/essentiality


Explanation:
but one might also say "for lack of substantiality" rather than reasons of ....

swisstell
Italy
Local time: 12:58
Works in field
Native speaker of: German
PRO pts in category: 67

Peer comments on this answer (and responses from the answerer)
neutral  Kim Metzger: Could you explain what this is supposed to mean?
33 mins
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
for practical reasons


Explanation:
I would say ....

David Hollywood
Local time: 07:58
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 106
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
paraphrase s.b. (using [im]material)


Explanation:
In (IAS/IFRS) accounting, the Wesentlichkeitsgrundsatz is the principle of materiality.

See http://www.iasplus.com/standard/ias01.htm
"Materiality and Aggregation

Each material class of similar items must be presented separately in the financial statements. Dissimilar items may be aggregated only if the are individually immaterial. [IAS 1.29]"

See also explanation at
http://esgb.comdirect.de/comdirect/gb2005/de/download/glossa... (p. 7).

In your case, the sentence "Aus Wesentlichkeitsgründen haben wir auf eine Analyse der diesbezüglichen Prozesse verzichtet." means just the opposite, i.e. the transactions/items were considered immaterial and thus did not warrant any analysis.

Suggested translation:
We did not analyse the related processes due to the immaterial nature of the underlying transactions/items.

Steffen Walter
Germany
Local time: 12:58
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 416
Grading comment
Thanks for all the help.

Peer comments on this answer (and responses from the answerer)
agree  Kim Metzger: Thanks for the explanation.
8 hrs
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Changes made by editors
Feb 13, 2007 - Changes made by Johanna Timm, PhD:
Term askedWesentlichkeitsgründen » Wesentlichkeitsgründe


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