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Wahlrechte über Angaben in der Bilanz werden teilweise zu Gunsten entsprechender Angaben in der Bilanz ausgeübt

English translation: s.u.

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21:20 Oct 22, 2007
German to English translations [PRO]
Bus/Financial - Accounting / financial statements
German term or phrase: Wahlrechte über Angaben in der Bilanz werden teilweise zu Gunsten entsprechender Angaben in der Bilanz ausgeübt
From a report concerning the preparation of financial statements:
"Wahlrechte über Angaben in der Bilanz und der Gewinn- und Verlustrechnung oder im Anhang werden teilweise zu Gunsten entsprechender Angaben in der Bilanz sowie Gewinn- und Verlustrechnung und teilweise im Anhang ausgeübt."
What I don't get - maybe it's too late in the evening - is whether the non-disclosure options were exercised or not. "zu Gunsten" seems to indicate that they were not, and that the information that didn't necessarily have to be disclosed actually was - but why mention it then? Or am I interpreting "zu Gunsten" wrong, and they are saying that some information in the balance sheet, P&L and notes WAS omitted?

TIA for any inspiration.
Karin
Karin Walker
Germany
Local time: 20:25
English translation:s.u.
Explanation:
"Options to present amounts in the balance sheet and income statement or disclose such amounts in the notes have been exercised in part by presenting the amounts in the balance sheet and income statement, and in part by disclosing them in the notes."

What they're saying is that some of the required information was presented in the balance sheet/income statement, and some of it was disclosed in the notes.

The HGB contains a number of such options to present amounts directly in the primary financial statements or to disclose them in the notes (e.g. HGB s. 264 ff.). Section 284(1) of the HGB also stipulates the required accounting policy:

§ 284 Erläuterung der Bilanz und der Gewinn- und Verlustrechnung
(1) In den Anhang sind diejenigen Angaben aufzunehmen, die zu den einzelnen Posten der Bilanz oder der Gewinn- und Verlustrechnung vorgeschrieben oder die im Anhang zu machen sind, weil sie in Ausübung eines Wahlrechts nicht in die Bilanz oder in die Gewinn- und Verlustrechnung aufgenommen wurden.

Section 284 Balance sheet and income statement disclosures
(1) The notes shall include those disclosures that are required for the individual items of the balance sheet or the income statement or that are required to be made in the notes because the items were not included in the balance sheet or income statement because of the exercise of an option.

(English translation from 4th ed. of Deutsches Bilanzrecht/German Accounting Legislation).
Selected response from:

RobinB
Germany
Local time: 20:25
Grading comment
Great as always, thanks Robin.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2s.u.RobinB


  

Answers


26 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
Whole sentence
s.u.


Explanation:
"Options to present amounts in the balance sheet and income statement or disclose such amounts in the notes have been exercised in part by presenting the amounts in the balance sheet and income statement, and in part by disclosing them in the notes."

What they're saying is that some of the required information was presented in the balance sheet/income statement, and some of it was disclosed in the notes.

The HGB contains a number of such options to present amounts directly in the primary financial statements or to disclose them in the notes (e.g. HGB s. 264 ff.). Section 284(1) of the HGB also stipulates the required accounting policy:

§ 284 Erläuterung der Bilanz und der Gewinn- und Verlustrechnung
(1) In den Anhang sind diejenigen Angaben aufzunehmen, die zu den einzelnen Posten der Bilanz oder der Gewinn- und Verlustrechnung vorgeschrieben oder die im Anhang zu machen sind, weil sie in Ausübung eines Wahlrechts nicht in die Bilanz oder in die Gewinn- und Verlustrechnung aufgenommen wurden.

Section 284 Balance sheet and income statement disclosures
(1) The notes shall include those disclosures that are required for the individual items of the balance sheet or the income statement or that are required to be made in the notes because the items were not included in the balance sheet or income statement because of the exercise of an option.

(English translation from 4th ed. of Deutsches Bilanzrecht/German Accounting Legislation).

RobinB
Germany
Local time: 20:25
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 909
Grading comment
Great as always, thanks Robin.

Peer comments on this answer (and responses from the answerer)
agree  Stephen Sadie
5 hrs

agree  Kieran McCann
14 hrs
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Changes made by editors
Oct 23, 2007 - Changes made by Steffen Walter:
Field (specific)Finance (general) » Accounting
Oct 22, 2007 - Changes made by Marcus Malabad:
Term askedWhole sentence » Wahlrechte über Angaben in der Bilanz werden teilweise zu Gunsten entsprechender Angaben in der Bilanz ausgeübt


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