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Retroacción contable

English translation: retroactive accounting

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Retroacción contable
English translation:retroactive accounting
Entered by: smvasc
Options:
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- Include in personal glossary

19:57 Mar 10, 2007
Spanish to English translations [PRO]
Bus/Financial - Accounting
Spanish term or phrase: Retroacción contable
La retroacción contable, en su caso, tiene efectos fiscales.

Thanks!
smvasc
Spain
Local time: 20:21
retroactive accounting
Explanation:
Rev. Ruling 90-38 - Although the Commissioner is authorized to consent to a retroactive accounting method change, a taxpayer does not have a right to a retroactive change, regardless of whether the change is from a permissible or impermissible method.
http://www.irs.gov/irm/part4/ch11s02.html
Selected response from:

Patricia Rosas
United States
Local time: 11:21
Grading comment
Thank you all for your help!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5Tax loss carryback
Richard Cadena
4Backdated accounts
Edward Tully
3 +1retroactive accounting
Patricia Rosas
3accounting regression
Ana Brassara


  

Answers


13 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
accounting regression


Explanation:
option

Ana Brassara
Local time: 15:21
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 44
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
retroactive accounting


Explanation:
Rev. Ruling 90-38 - Although the Commissioner is authorized to consent to a retroactive accounting method change, a taxpayer does not have a right to a retroactive change, regardless of whether the change is from a permissible or impermissible method.
http://www.irs.gov/irm/part4/ch11s02.html

Patricia Rosas
United States
Local time: 11:21
Native speaker of: English
PRO pts in category: 8
Grading comment
Thank you all for your help!

Peer comments on this answer (and responses from the answerer)
agree  xxxDCypher: the accounting date of the entry is retroactive. in this case, the tax effect is also retroactive
1 day13 hrs
  -> thanks, Paul.
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
Backdated accounts


Explanation:
!

Edward Tully
Local time: 20:21
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 295
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8 hrs   confidence: Answerer confidence 5/5
Tax loss carryback


Explanation:
Without more context, this is the only think I can come up with.

The Eighth Deluxe Edition of Black's Law Dictionary has the following definition:

An income tax deduction (especially for a net operating loss) that can not be taken entirely in a given period, but may be taken in an earlier period (usually the prior 3 years).

Hope this helps.
18 years experience in the Mexico City accounting/tax/finance/banking community



    Reference: http://aicpa.org
    Reference: http://imcp.org.mx
Richard Cadena
Mexico
Local time: 13:21
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 650
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