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Deudores diversos, cuentas corrientes con socios y administradores

English translation: Sundry debtors, current accounts with members and directors

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Deudores diversos, cuentas corrientes con socios y administradores
English translation:Sundry debtors, current accounts with members and directors
Entered by: Dennis Wright
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- Include in personal glossary

10:00 Dec 22, 2007
Spanish to English translations [PRO]
Bus/Financial - Accounting / balance sheet assets
Spanish term or phrase: Deudores diversos, cuentas corrientes con socios y administradores
This is an item in a set of accounts - number 553 in the standard Chart of Accounts but I can't find a credible English version anywhere. This is one for the accounting specialists. It looks like it might refer to an open credit facility.
Dennis Wright
Local time: 07:43
Sundry debtors, current accounts with members and directors
Explanation:
(One possibility I've seen in previous translations)

--------------------------------------------------
Note added at 1 hr (2007-12-22 11:49:48 GMT)
--------------------------------------------------

This is item 553 from the Spanish Chart of Accounts, and I think this translation has a few "trampas" that should be clarified:

1) I believe the general account would be called either "Debtors" or "Accounts receivable", and the specific account "deudores diversos" would be either "Sundry debtors" or "Sundry accounts receivable"

2) The translation of "socios" always depends on context and for that reason I have left it at "members". If the accounts you are translating are from a "sociedad anónima" (public limited company), "socios" could be translated as "shareholders". If this is a "sociedad de responsabilidad limitada" (private limited company) "socios" is perhaps best translated as "members", since the Ley de Sociedades de Responsabilidad Limitada strictly forbids issuing shares and, thus, "socios" of SLs are more appropriately referred to as "members" rather than "shareholders". If your text involves the accounts of a partnership, then "socios" could indeed be translated as "partners", BUT I suspect that these are not the accounts of a partnership, since partnerships in Spain generally do not have to render and publicize the detailed accounts provided for in the Spanish Chart of Accounts.

3) "Administradores" and "administrators" are usually false friends, since "administradores" in Spanish refers to the directors of a company. Here is an explanation of Spanish company directorships published by the DLA Piper law firm in Madrid. You will see here that "administrador" in this context is correctly translated into English as "director":


"There are several options for the management structure
of both SAs (Sociedades Anónimas) and SLs (Sociedades de Responsabilidad Limitada), each of which is mutually
exclusive:

Sole Director or "Administrador Unico". This is often
the preferred structure where important decisions
need to be taken relatively quickly and easily, and
where a trusted individual is available in Spain; or

Joint Directors or "Administradores
Mancomunados" (directors who may only act
jointly). This may be appropriate where unanimity of
decision-making is required; or

Joint and Several Directors or "Administradores
Solidarios" (two or more directors who may take
decisions either jointly or severally); or

Board of Directors or "Consejo de
Administración" (not less than three directors), jointly
voting on the relevant resolutions. In this case, a
company secretary must also be appointed. Board
resolutions may be adopted in writing. Meetings may
be held by means of telecommunication methods."

"10 FAQs--Acquiring a Business in Spain" published by the DLA Piper law firm.
http://www.dlapiper.com/Home.aspx

Selected response from:

Rebecca Jowers
Spain
Local time: 08:43
Grading comment
Excellent comprehensive answer - many thanks and a Merry XMAS!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3Sundry debtors, current accounts with members and directorsRebecca Jowers
5Other receivables, current partner and director accounts
Richard Cadena
4accounts receivable/sundry debtors, current accounts with partners and administrators
Smartranslators
3Sundry debtors, accounts payable to members and directors
Terejimenez


  

Answers


32 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
accounts receivable/sundry debtors, current accounts with partners and administrators


Explanation:
Otra posibilidad. Saludos y Feliz Navidad!

Smartranslators
Spain
Local time: 08:43
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 325
Login to enter a peer comment (or grade)

11 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
Sundry debtors, current accounts with members and directors


Explanation:
(One possibility I've seen in previous translations)

--------------------------------------------------
Note added at 1 hr (2007-12-22 11:49:48 GMT)
--------------------------------------------------

This is item 553 from the Spanish Chart of Accounts, and I think this translation has a few "trampas" that should be clarified:

1) I believe the general account would be called either "Debtors" or "Accounts receivable", and the specific account "deudores diversos" would be either "Sundry debtors" or "Sundry accounts receivable"

2) The translation of "socios" always depends on context and for that reason I have left it at "members". If the accounts you are translating are from a "sociedad anónima" (public limited company), "socios" could be translated as "shareholders". If this is a "sociedad de responsabilidad limitada" (private limited company) "socios" is perhaps best translated as "members", since the Ley de Sociedades de Responsabilidad Limitada strictly forbids issuing shares and, thus, "socios" of SLs are more appropriately referred to as "members" rather than "shareholders". If your text involves the accounts of a partnership, then "socios" could indeed be translated as "partners", BUT I suspect that these are not the accounts of a partnership, since partnerships in Spain generally do not have to render and publicize the detailed accounts provided for in the Spanish Chart of Accounts.

3) "Administradores" and "administrators" are usually false friends, since "administradores" in Spanish refers to the directors of a company. Here is an explanation of Spanish company directorships published by the DLA Piper law firm in Madrid. You will see here that "administrador" in this context is correctly translated into English as "director":


"There are several options for the management structure
of both SAs (Sociedades Anónimas) and SLs (Sociedades de Responsabilidad Limitada), each of which is mutually
exclusive:

Sole Director or "Administrador Unico". This is often
the preferred structure where important decisions
need to be taken relatively quickly and easily, and
where a trusted individual is available in Spain; or

Joint Directors or "Administradores
Mancomunados" (directors who may only act
jointly). This may be appropriate where unanimity of
decision-making is required; or

Joint and Several Directors or "Administradores
Solidarios" (two or more directors who may take
decisions either jointly or severally); or

Board of Directors or "Consejo de
Administración" (not less than three directors), jointly
voting on the relevant resolutions. In this case, a
company secretary must also be appointed. Board
resolutions may be adopted in writing. Meetings may
be held by means of telecommunication methods."

"10 FAQs--Acquiring a Business in Spain" published by the DLA Piper law firm.
http://www.dlapiper.com/Home.aspx



Rebecca Jowers
Spain
Local time: 08:43
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 96
Grading comment
Excellent comprehensive answer - many thanks and a Merry XMAS!

Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia: Right as usual. Merry Xmas and a Happy New Year!!!
46 mins
  -> Muchas gracias, Miguel, y "Felices Fiestas" desde Madrid!

agree  Victoria Burns:
3 hrs
  -> Gracias Victoria

agree  alexfromsd
7 hrs
  -> Gracias Alex
Login to enter a peer comment (or grade)

8 hrs   confidence: Answerer confidence 5/5
Other receivables, current partner and director accounts


Explanation:
"Sundry receivables" is now outdated in US accounting terminaology. Instead, the current term used is "other receivables", which distinguishes it from "accounts receivable", "trade receivables", and "trade accounts receivable". The only other possibility would be "receivables from XXX".

Hope this helps.


    Reference: http://aicpa.org
    Reference: http://imcp.org.mx
Richard Cadena
Mexico
Local time: 01:43
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 611
Login to enter a peer comment (or grade)

20 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Sundry debtors, accounts payable to members and directors


Explanation:
Esto encontré y por la definición me parece que "accounts payable" puede servir.
Cuenta 553 : Esta cuenta se utiliza para compensar principalmente flujos de efectivo entre la empresa y sus socios o administradores. Por ejemplo si un administrador o socio paga una factura por cuenta de la empresa.


    Reference: http://www.contabilidad.tk/node/389
Terejimenez
Local time: 01:43
Specializes in field
Native speaker of: Spanish
PRO pts in category: 20
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