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abweichendes Geschäftsjahr

English translation: differing/different financial (BE)/fiscal (AE) year

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15:01 May 14, 2005
German to English translations [PRO]
Bus/Financial - Finance (general) / Accounting
German term or phrase: abweichendes Geschäftsjahr
Strangely enough, I couldn't find this in the glossaries - so I though I'd make one.

What would it be in British and American English?

What do the specialized dictionaries have to say about it?

BTW - I didn't found enough Google entries for the terms "deviating...", "non-calendar...", "extraordinary..." or "alternative..." to really convince me - you'd think there would be more. ;-)
Derek Gill Franßen
Germany
Local time: 08:40
English translation:differing/different financial (BE)/fiscal (AE) year
Explanation:
This really is as simple as it looks. In most cases, it will refer to the situation where parents and subsidiaries have different FYs, e.g. as described in HGB s. 299(3):

"(3) Wird bei abweichenden Abschlußstichtagen ein Unternehmen nicht auf der Grundlage eines auf den Stichtag und den Zeitraum des Konzernabschlusses aufgestellten Zwischenabschlusses in den Konzernabschluß einbezogen, so sind Vorgänge von besonderer Bedeutung für die Vermögens-, Finanz- und Ertragslage eines in den Konzernabschluß einbezogenen Unternehmens, die zwischen dem Abschlußstichtag dieses Unternehmens und dem Abschlußstichtag des Konzernabschlusses eingetreten sind, in der Konzernbilanz und der Konzern-Gewinn- und Verlustrechnung zu berücksichtigen oder im Konzernanhang anzugeben."

"(3) If a company with a differing financial year-end is not included in the consolidated financial statements on the basis of interim financial statements prepared as at the balance sheet date and covering the period of the consolidated financial statements, transactions that materially affect the net assets, financial position and results of operations of a company included in the consolidated financial statements that have occurred between the balance sheet date of that company and the balance sheet date of the consolidated financial statements shall be recognised in the consolidated balance sheet and consolidated income statement and disclosed in the notes."

For your text: "abweichende Periode - Monat an dem das abweichende Geschäftsjahr beginnt", the simplest translation is "Differing/different period - month in which the differing/different financial year commences".

I think that "arbitrary" FY is completely wrong here, because apart from anything else, German law doesn't permit an arbitrary FY. And the IRS uses "business" year in the same way that German tax law talks of the "Wirtschaftsjahr" (not Geschäftsjahr), often also translated as "tax year".

Sometimes, the simplest, most self-evident solutions really are the right ones...

--------------------------------------------------
Note added at 23 hrs 3 mins (2005-05-15 14:04:50 GMT)
--------------------------------------------------

It\'s not just HGB accounting where this concept appears, of course. Here\'s IAS 27.26/27:

\"26. The financial statements of the parent and its subsidiaries used in the preparation of the consolidated financial statements shall be prepared as of the same reporting date. When the reporting dates of the parent and a subsidiary are different, the subsidiary prepares, for consolidation purposes, additional financial statements as of the same date as the financial statements of the parent unless it is impracticable to do so.
27. When, in accordance with paragraph 26, the financial statements of a subsidiary used in the preparation of consolidated financial statements are prepared as of a reporting date different from that of the parent, adjustments shall be made for the effects of significant transactions or events that occur between that date and the date of the parents financial statements. In any case, the difference between the reporting date of the subsidiary and that of the parent shall be no more than three months. The length of the reporting periods and any difference in the reporting dates shall be the same from period to period.\"

\"26. Die Abschlüsse des Mutterunternehmens und seiner Tochterunternehmen, die bei der Aufstellung des Konzernabschlusses verwendet werden, sind gewöhnlich auf den gleichen Stichtag aufgestellt. Weichen die Abschlussstichtage des Mutterunternehmens und eines Tochterunternehmens voneinander ab, dann stellt das Tochterunternehmen einen Zwischenabschluss auf den Stichtag des Mutterunternehmens auf, sofern dies nicht undurchführbar ist.
27. Wird in Übereinstimmung mit Paragraph 26 der Abschluss eines Tochterunternehmens, der bei der Aufstellung des Konzernabschlusses herangezogen wird, zu einem vom Mutterunternehmen abweichenden Stichtag aufgestellt, so sind Berichtigungen für die Auswirkungen bedeutender Geschäftsvorfälle oder anderer Ereignisse vorzunehmen, die zwischen diesem Stichtag und dem Stichtag des Mutterunternehmens eingetreten sind. Der Unterschied zwischen den Abschlussstichtagen von Tochterunternehmen und Mutterunternehmen darf nicht mehr als drei Monate betragen. Die Länge der Berichtsperioden und die Abweichungen zwischen den Berichtsstichtagen müssen von Periode zu Periode gleich bleiben.\"

Even US GAAP uses the same terminology. ARB 51.4:

\"4. A difference in fiscal periods of a parent and a subsidiary does not of itself justify the exclusion of the subsidiary from consolidation. It ordinarily is feasible for the subsidiary to prepare, for consolidation purposes, statements for a period which corresponds with or closely approaches the fiscal period of the parent. However, where the difference is not more than about three months, it usually is acceptable to use, for consolidation purposes, the subsidiary\'s statements for its fiscal period; when this is done, recognition should be given by disclosure or otherwise to the effect of intervening events which materially affect the financial position or results of operations.\"
Selected response from:

RobinB
Germany
Local time: 08:40
Grading comment
You've convinced me - I'm going to go with "differing", because "different" might be understood incorrectly (IMHO). Thanks Robin (and the others who helped).
4 KudoZ points were awarded for this answer

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Summary of answers provided
5differing/different financial (BE)/fiscal (AE) yearRobinB
4non-standard business yearDavid Moore
3financial period shifting
Mustafa Er (BSc MA)
3alternative FY (financial - BE fiscal AE year)
Ted Wozniak
3diverging business year
swisstell
3Exceptional business year
Raghunathan


Discussion entries: 6





  

Answers


16 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
abweichendes Geschäftsjahr
diverging business year


Explanation:
perhaps

swisstell
Italy
Local time: 08:40
Specializes in field
Native speaker of: German
PRO pts in category: 175
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30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
abweichendes Geschäftsjahr
non-standard business year


Explanation:
Another idea...

David Moore
Local time: 08:40
Native speaker of: Native in EnglishEnglish
PRO pts in category: 178
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56 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
abweichendes Geschäftsjahr
alternative FY (financial - BE fiscal AE year)


Explanation:
Given the lack of context. I could see using plain old "different" if the FY is say, a subsidiary's FY that is different from the parent's FY. Non-calender is too specific without context, extraordinary to me means a one-time different FY, and arbitrary is wrong IMHO since that would imply once could change it a random.

I'd likely translate your heading as "Differing period - Month in which the different FY begings"

Ted Wozniak
United States
Local time: 01:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 479
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
abweichendes Geschäftsjahr
Exceptional business year


Explanation:
The year was exceptional or different - not the standard one as usual

Raghunathan
Local time: 12:10
Works in field
Native speaker of: Tamil
PRO pts in category: 92
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
abweichendes Geschäftsjahr
financial period shifting


Explanation:
-

Mustafa Er (BSc MA)
Turkey
Local time: 09:40
Specializes in field
Native speaker of: Native in TurkishTurkish, Native in EnglishEnglish
PRO pts in category: 12
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22 hrs   confidence: Answerer confidence 5/5
abweichendes Geschäftsjahr
differing/different financial (BE)/fiscal (AE) year


Explanation:
This really is as simple as it looks. In most cases, it will refer to the situation where parents and subsidiaries have different FYs, e.g. as described in HGB s. 299(3):

"(3) Wird bei abweichenden Abschlußstichtagen ein Unternehmen nicht auf der Grundlage eines auf den Stichtag und den Zeitraum des Konzernabschlusses aufgestellten Zwischenabschlusses in den Konzernabschluß einbezogen, so sind Vorgänge von besonderer Bedeutung für die Vermögens-, Finanz- und Ertragslage eines in den Konzernabschluß einbezogenen Unternehmens, die zwischen dem Abschlußstichtag dieses Unternehmens und dem Abschlußstichtag des Konzernabschlusses eingetreten sind, in der Konzernbilanz und der Konzern-Gewinn- und Verlustrechnung zu berücksichtigen oder im Konzernanhang anzugeben."

"(3) If a company with a differing financial year-end is not included in the consolidated financial statements on the basis of interim financial statements prepared as at the balance sheet date and covering the period of the consolidated financial statements, transactions that materially affect the net assets, financial position and results of operations of a company included in the consolidated financial statements that have occurred between the balance sheet date of that company and the balance sheet date of the consolidated financial statements shall be recognised in the consolidated balance sheet and consolidated income statement and disclosed in the notes."

For your text: "abweichende Periode - Monat an dem das abweichende Geschäftsjahr beginnt", the simplest translation is "Differing/different period - month in which the differing/different financial year commences".

I think that "arbitrary" FY is completely wrong here, because apart from anything else, German law doesn't permit an arbitrary FY. And the IRS uses "business" year in the same way that German tax law talks of the "Wirtschaftsjahr" (not Geschäftsjahr), often also translated as "tax year".

Sometimes, the simplest, most self-evident solutions really are the right ones...

--------------------------------------------------
Note added at 23 hrs 3 mins (2005-05-15 14:04:50 GMT)
--------------------------------------------------

It\'s not just HGB accounting where this concept appears, of course. Here\'s IAS 27.26/27:

\"26. The financial statements of the parent and its subsidiaries used in the preparation of the consolidated financial statements shall be prepared as of the same reporting date. When the reporting dates of the parent and a subsidiary are different, the subsidiary prepares, for consolidation purposes, additional financial statements as of the same date as the financial statements of the parent unless it is impracticable to do so.
27. When, in accordance with paragraph 26, the financial statements of a subsidiary used in the preparation of consolidated financial statements are prepared as of a reporting date different from that of the parent, adjustments shall be made for the effects of significant transactions or events that occur between that date and the date of the parents financial statements. In any case, the difference between the reporting date of the subsidiary and that of the parent shall be no more than three months. The length of the reporting periods and any difference in the reporting dates shall be the same from period to period.\"

\"26. Die Abschlüsse des Mutterunternehmens und seiner Tochterunternehmen, die bei der Aufstellung des Konzernabschlusses verwendet werden, sind gewöhnlich auf den gleichen Stichtag aufgestellt. Weichen die Abschlussstichtage des Mutterunternehmens und eines Tochterunternehmens voneinander ab, dann stellt das Tochterunternehmen einen Zwischenabschluss auf den Stichtag des Mutterunternehmens auf, sofern dies nicht undurchführbar ist.
27. Wird in Übereinstimmung mit Paragraph 26 der Abschluss eines Tochterunternehmens, der bei der Aufstellung des Konzernabschlusses herangezogen wird, zu einem vom Mutterunternehmen abweichenden Stichtag aufgestellt, so sind Berichtigungen für die Auswirkungen bedeutender Geschäftsvorfälle oder anderer Ereignisse vorzunehmen, die zwischen diesem Stichtag und dem Stichtag des Mutterunternehmens eingetreten sind. Der Unterschied zwischen den Abschlussstichtagen von Tochterunternehmen und Mutterunternehmen darf nicht mehr als drei Monate betragen. Die Länge der Berichtsperioden und die Abweichungen zwischen den Berichtsstichtagen müssen von Periode zu Periode gleich bleiben.\"

Even US GAAP uses the same terminology. ARB 51.4:

\"4. A difference in fiscal periods of a parent and a subsidiary does not of itself justify the exclusion of the subsidiary from consolidation. It ordinarily is feasible for the subsidiary to prepare, for consolidation purposes, statements for a period which corresponds with or closely approaches the fiscal period of the parent. However, where the difference is not more than about three months, it usually is acceptable to use, for consolidation purposes, the subsidiary\'s statements for its fiscal period; when this is done, recognition should be given by disclosure or otherwise to the effect of intervening events which materially affect the financial position or results of operations.\"

RobinB
Germany
Local time: 08:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 380
Grading comment
You've convinced me - I'm going to go with "differing", because "different" might be understood incorrectly (IMHO). Thanks Robin (and the others who helped).
Login to enter a peer comment (or grade)




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