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English translation: current debt/shareholders equity

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09:17 Feb 16, 2009
Spanish to English translations [PRO]
Bus/Financial - Accounting / annual report
Spanish term or phrase: help with sentence
Hello,
I am having trouble with the last part of this sentence: Uno de los grandes objetivos fijados por el Consejo de Administración es la reducción de la deuda tanto la relativa al circulante como la deuda estructural (activos fijos - r.r.p.p.). Especially with regards to la relativa al circulante and rrpp (PR seems unlikely in this context). Any suggestions? Thanks.
AFerroni
Spain
Local time: 19:47
English translation:current debt/shareholders equity
Explanation:
Hi Alexa,

deuda circulante = current debt, rr.pp = recursos propios = shareholders' equity

hth
Helen
Selected response from:

Helen Johnston
Spain
Local time: 19:47
Grading comment
Thanks again.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5One of the great objectives set by the Administrative Council/Board is . . . .
argosys
4current debt/shareholders equity
Helen Johnston
3(capital) circulante = working capital or current assets and liabilities / recursos propios=equity
Margarita Ezquerra (Smart Translators, S.L.)


Discussion entries: 2





  

Answers


24 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
current debt/shareholders equity


Explanation:
Hi Alexa,

deuda circulante = current debt, rr.pp = recursos propios = shareholders' equity

hth
Helen


Helen Johnston
Spain
Local time: 19:47
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 35
Grading comment
Thanks again.
Notes to answerer
Asker: Hi Helen, Thanks for the help.


Peer comments on this answer (and responses from the answerer)
neutral  argosys: liabilities consisting of current debt as well as long-term (capital-structure) debt.
14 days
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1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
(capital) circulante = working capital or current assets and liabilities / recursos propios=equity


Explanation:
Saludos

Margarita Ezquerra (Smart Translators, S.L.)
Spain
Local time: 19:47
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 329
Notes to answerer
Asker: Thank you.

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2 hrs   confidence: Answerer confidence 5/5
One of the great objectives set by the Administrative Council/Board is . . . .


Explanation:
My translation:

One of the great objectives set by the Administrative Council/Board is the reduction of debt in regard to both current debt and long-term debt (fixed assets less stockholders' equity.)

On the right side of the accounting equation is the sum of liabilities or debt (current and long-term) and stockholders' equity, which added together is equal to the total assets on the left side. If one deducts stockholders' equity from total assets, one is left with total liabilities (deuda circulante + deuda estructural). Both of these debt items are being targeted for reduction by the Administrative Board.

I hope this explains it.

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Note added at 1 day5 hrs (2009-02-17 14:24:56 GMT)
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Net working capital is translated as capital circulante neto, but here I understand that the author refers to current debt (deuda corriente). Current asset is activo circulante/realizable, and it seems the writer got tempted to attach circulante to short-term liability instead of using the usual term pasivo corriente. Instead of pasivo a largo plazo, deuda estructural is employed because in finance the capital structure includes not just equity but also long term debt.
I might have second-guessed the writer with regard to fixed assets (activos fijos).To financial analysts it does not make much sense if fixed assets are deducted by the equity, because they are normally funded also by long-term debt, but if the capitalization (LT debt + equity) exceeds fixed assets by a significant amount, the net working capital position is improved as well as the current ratio.
I hope I did not bore you with this technical discussion.

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Note added at 3 days2 hrs (2009-02-19 11:54:59 GMT)
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Thanks, Rebecca, you are correct about "consejo de administracion." The management board, I understand, is translated as "consejo de direccion."

argosys
Local time: 01:47
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 41
Notes to answerer
Asker: Thanks for the explanation.


Peer comments on this answer (and responses from the answerer)
neutral  Rebecca Jowers: In Spain "consejo de administración" is the "board of directors" of a company, rather than an "administrative council (or) board."// In Spain "consejo de administración" = board of directors
1 hr
  -> Thanks for your comment. I thought of "management board" which consists of the top corporate executives. The board of directors consists of individuals elected by shareholders to represent their interests.
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