Login or register (free and only takes a few minutes) to participate in this question.You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy. | GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | | German term or phrase: | Abschreibungen auf immaterielle Vermögensgegenstände des Anlagevermögens und Sachanlagen | | English translation: | Amortisation and write-downs of intangible fixed assets and depreciation and write-downs of tangible fixed assets (HGB/German GAAP) / Depreciation and amortisation expense (IFRS) | | Entered by: | Languageman |
| Options:
- Contribute to this entry
- Include in personal glossary
|
German to English translations [PRO]
Bus/Financial - Accounting / Corporate profit and loss statement | | German term or phrase: Abschreibungen auf immaterielle Vermögensgegenstände des Anlagevermögens und Sachanlagen | Sorry that at first glance this appears the same as http://www.proz.com/kudoz/129348, but the phrase is too long for the term field.
This appears in a corporate profit and loss statement:
----
Abschreibungen auf immaterielle Vermögensgegenstände des Anlagevermögens und Sachanlagen
----
To me there appears to be a contradiction here between "immateriell" and "Sachanlagen". As far as I can tell (but I'm no financial expert!), the standard translations would give:
Abschreibungen auf immaterielle Vermögensgegenstände ... = amortization of intangible assets ...
... des Anlagevermögens ... = ... held as fixed assets ...
... und Sachanlagen = ... and tangible assets
Now I can't imagine that 'an intangible asset' can be 'held as a tangible asset', so as far as I can see either I'm missing something or the language is rather clumsy.
Should this in fact be read as "Abschreibungen auf immaterielle Vermögensgegenstände des Anlagevermögens und **Abschreibungen auf ** Sachanlagen", thus giving "amortization of intangible assets and depreciation of tangible assets"? (If so, am I correct in dropping the 'held as fixed assets' bit?)
Thanks in advance for your ideas.
Stephen |
| LanguagemanKudoZ activityQuestions: 291 (none open) ( 4 without valid answers) ( 17 closed without grading) Answers: 337
United Kingdom
| | Local time: 23:14
|
| | depreciation and amortisation expense (if IFRSs) | Explanation:
The German is absolutely OK, the "Abschreibungen" refers to both intangibles and tangibles/PPE.
What's more important is to know which accounting standards are involved. If this is the consolidated income statement of a listed company, then of course these will be IFRSs, in which case the standard English heading is:
Depreciation and amortisation expense
But if it's an unlisted corporation, it may well be HGB/German GAAP, in which case section 275(1) no. 7. of the HGB applies, and the English is as follows:
Amortisation and write-downs of intangible fixed assets and depreciation and write-downs of tangible fixed assets
(translation from "Deutsches Bilanzrecht/German Accounting Legislation", 4th edition/XBRL German GAAP taxonomy version 2(Datev SKR 03/SKR 04 2007 revised).
--------------------------------------------------
Note added at 1 hr (2007-09-28 08:34:59 GMT)
--------------------------------------------------
Before I forget, the German "immaterielle Vermögensgegenstände des Anlagevermögens" is merely emphasising that these are fixed assets, rather than current intangibles. Doesn't affect the translation.
--------------------------------------------------
Note added at 5 hrs (2007-09-28 11:58:55 GMT)
--------------------------------------------------
No, if they're a large international group of companies they're IFRSs, unless they're not publicly traded ("nicht kapitalmarktorientiert"). The reference to section 317 of the HGB relates to the audit, not to the accounting standards.
The first section of the notes of the financial statements always contains a "compliance statement", i.e. an indication of whether the financial statements were prepared in accordance with IFRSs or HGB (or, in extremely rare cases nowadays, US GAAP).
--------------------------------------------------
Note added at 6 hrs (2007-09-28 13:17:44 GMT)
--------------------------------------------------
But you already found the answer to which accounting standards were applied:
"Die GmbH & Co. KG hat nach den Vorschriften des Handelsgesetzbuches einen Jahresabschluss und als Mutterunternehmen einen Konzernabschluss aufgestellt."
This means that the financial statements were prepared in accordance with the HGB/German GAAP, not IFRSs.
There are quite a lot of large German groups whose group parents aren't listed, as a consequence of which there is no requirement for them to prepare IFRS consolidated financial statements (though a number of them do so voluntarily). These large middle-market companies are also the subject of the confusingly named "IFRS for SMEs" that has recently been published by the IASB as an exposure draft. Nevertheless, if there's no requirement (certainly at present) to prepare IFRS financial statements, nobody can object to these companies (many of them GmbH & Co KGs, as in your case) preparing German GAAP consolidated financial statements.
Please contact me directly by e-mail and I'll send you a set of illustrative German GAAP financial statements. Just 'cos it's Friday, right? |
| Selected response from:
RobinB
Local time: 00:14
| Grading comment Thank you again for the great help.
4 KudoZ points were awarded for this answer |
| |
| Discussion entries: 0 |
|---|
Automatic update in 00:
|
1 hr confidence:  peer agreement (net): +1 | Abschreibungen auf immaterielle Vermögensgegenstände des ... depreciation and amortisation expense (if IFRSs)
Explanation:
The German is absolutely OK, the "Abschreibungen" refers to both intangibles and tangibles/PPE.
What's more important is to know which accounting standards are involved. If this is the consolidated income statement of a listed company, then of course these will be IFRSs, in which case the standard English heading is:
Depreciation and amortisation expense
But if it's an unlisted corporation, it may well be HGB/German GAAP, in which case section 275(1) no. 7. of the HGB applies, and the English is as follows:
Amortisation and write-downs of intangible fixed assets and depreciation and write-downs of tangible fixed assets
(translation from "Deutsches Bilanzrecht/German Accounting Legislation", 4th edition/XBRL German GAAP taxonomy version 2(Datev SKR 03/SKR 04 2007 revised).
--------------------------------------------------
Note added at 1 hr (2007-09-28 08:34:59 GMT)
--------------------------------------------------
Before I forget, the German "immaterielle Vermögensgegenstände des Anlagevermögens" is merely emphasising that these are fixed assets, rather than current intangibles. Doesn't affect the translation.
--------------------------------------------------
Note added at 5 hrs (2007-09-28 11:58:55 GMT)
--------------------------------------------------
No, if they're a large international group of companies they're IFRSs, unless they're not publicly traded ("nicht kapitalmarktorientiert"). The reference to section 317 of the HGB relates to the audit, not to the accounting standards.
The first section of the notes of the financial statements always contains a "compliance statement", i.e. an indication of whether the financial statements were prepared in accordance with IFRSs or HGB (or, in extremely rare cases nowadays, US GAAP).
--------------------------------------------------
Note added at 6 hrs (2007-09-28 13:17:44 GMT)
--------------------------------------------------
But you already found the answer to which accounting standards were applied:
"Die GmbH & Co. KG hat nach den Vorschriften des Handelsgesetzbuches einen Jahresabschluss und als Mutterunternehmen einen Konzernabschluss aufgestellt."
This means that the financial statements were prepared in accordance with the HGB/German GAAP, not IFRSs.
There are quite a lot of large German groups whose group parents aren't listed, as a consequence of which there is no requirement for them to prepare IFRS consolidated financial statements (though a number of them do so voluntarily). These large middle-market companies are also the subject of the confusingly named "IFRS for SMEs" that has recently been published by the IASB as an exposure draft. Nevertheless, if there's no requirement (certainly at present) to prepare IFRS financial statements, nobody can object to these companies (many of them GmbH & Co KGs, as in your case) preparing German GAAP consolidated financial statements.
Please contact me directly by e-mail and I'll send you a set of illustrative German GAAP financial statements. Just 'cos it's Friday, right?
| RobinB
Local time: 00:14
Specializes in field
Native speaker of:  English
PRO pts in category: 837
|
| | Grading comment | Thank you again for the great help. |
| Notes to answerer
Asker: Great, thanks. Any idea how I could find out (without asking) which accounting standards apply? This is a large international group of companies, so does that imply IFRS?
Asker: It's HGB. I found this in last year's report (not stated in the text they sent me): "Wir haben unsere Konzernabschlussprüfung nach § 317 HGB unter Beachtung der vom Institut der Wirtschaftsprüfer (IDW) festgestellten "
Asker: Thanks again for the additional info. For additional info., I took a look in section one of "Konzernabschluss, Anhang" and did not find the statement you referred to . It's a bit tricky to know the current status as I only have the deltas from last year's report, but last year's reports describes the business as "family-led", and the section in question states: "Die GmbH & Co. KG
hat nach den Vorschriften des
Handelsgesetzbuches einen Jahresabschluss
und als Mutterunternehmen einen Konzernabschluss
aufgestellt." and "Die deutschen Tochterunternehmen ... erfüllen die Voraussetzungen der §§ 264 Abs.
3 bzw. 264 b HGB und sind daher von den dort geregelten Offenlegungspflichten befreit."
Asker: You're right, the answer was there in front of me all along. Must be Friday! Thanks again for all the help, much appreciated.
|
|
| | Login to enter a peer comment (or grade) |
Return to KudoZ list
| Changes made by editors |
|---|
| Sep 28, 2007 - Changes made by Steffen Walter: | | Term asked | Abschreibungen auf immaterielle Vermögensgegenstände des ... => Abschreibungen auf immaterielle Vermögensgegenstände des Anlagevermögens und Sachanlagen |
|
|
| | | | X Sign in to your ProZ.com account... | | | | |
| KudoZ™ translation helpThe KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases. See also: Search millions of term translations  |
The translation workplace 
