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revertir

English translation: carry forward

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:revertir
English translation:carry forward
Entered by: MJ Barber

02:51 Nov 14, 2001
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: revertir
En el ejercicio 1997 se efectuó una provisión por un contencioso que se estaba tramitando por lo que se procedió a ajustar positivamente el importe íntegro y en el ejercicio 1998 el gasto fue definitivo por lo que se *revirtió* el mismo

Please, apart from the tortuous syntax, can anybody explain the last bit to me.
MJ Barber
Spain
Local time: 10:03
carry forward
Explanation:
I assume you'd like this in proper "accountese"?

revertir = to carry forward (from one fiscal year to the next)

During the 1997 financial year, a dispute was in progress, and the whole amount was adjusted upward accordingly [because the cost had not yet been definitively incurred]; that cost was carried forward to the 1998 balance sheet, when the cost [from the outcome of the dispute] became definitive ["el mismo" = the balance sheet total, which is what was adjusted to reflect the amount carried forward]

And, simply put: in 1997, the company budgeted a certain amount to cover the disputed cost, but they didn't actually have to pay that amount until the following year, 1998, so that is the year where the budgeted amount appears in the balance sheet.
Selected response from:

Yolanda Broad
United States
Local time: 04:03
Grading comment
great, thanks. A copy-and-paste answer!!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1revert
Robert INGLEDEW
5brought back
Telesforo Fernandez (X)
5write back
travir (X)
4Withdrew
Dito
4carry forward
Yolanda Broad


  

Answers


4 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Withdrew


Explanation:
In 1997 they made contention plans for some 'bad debts' on tramit(or similar expenses) , but in 1998 they had a better defined expenditure and 'withdrew' the contention plan.

Dito
Local time: 09:03
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 94

Peer comments on this answer (and responses from the answerer)
disagree  Telesforo Fernandez (X): far from it
4 mins
  -> Not sure it is far from it. What would you suggest Telesforo?
agree  Irene Cudich
2 hrs
  -> Glad I was not so far off :>
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11 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
revert


Explanation:
ajustar positivamente: adjust positively
importe íntegro: total amount
ejercicio: fiscal or business year
el gasto fue definitivo: the expense was definitive or final
por lo que se *revirtió* el mismo: so it was reverted.
I hope this helps you. I am not an expert in finance.
Source: Spanish Dictionary of Business, Commerce and Finance (Routledge)



Robert INGLEDEW
Argentina
Local time: 05:03
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 1940

Peer comments on this answer (and responses from the answerer)
agree  Irene Cudich: Sorry, el agree es para ti, no para Telésforo
2 hrs
  -> Gracias.
neutral  Dito: But telesforo has not replied!
2 hrs
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38 mins   confidence: Answerer confidence 5/5
brought back


Explanation:
In the financial results of 1977 a financial provision was made for a dispute which was still going on, and for which the total amount was taken on positive side and in the financial results of 1988, it was the last expenditure and that is why the same was 'brought back"

Telesforo Fernandez (X)
Local time: 13:33
PRO pts in pair: 262

Peer comments on this answer (and responses from the answerer)
neutral  Dito: Oops he has. Not sure I like the brought back though
2 hrs
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
carry forward


Explanation:
I assume you'd like this in proper "accountese"?

revertir = to carry forward (from one fiscal year to the next)

During the 1997 financial year, a dispute was in progress, and the whole amount was adjusted upward accordingly [because the cost had not yet been definitively incurred]; that cost was carried forward to the 1998 balance sheet, when the cost [from the outcome of the dispute] became definitive ["el mismo" = the balance sheet total, which is what was adjusted to reflect the amount carried forward]

And, simply put: in 1997, the company budgeted a certain amount to cover the disputed cost, but they didn't actually have to pay that amount until the following year, 1998, so that is the year where the budgeted amount appears in the balance sheet.


    Larousse Diccionario econ�mico, comerciall y financiero ES<>EN
    Termium; the Oxford 3-in-1 (and my many years of teaching college business Spanish courses...)
Yolanda Broad
United States
Local time: 04:03
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 668
Grading comment
great, thanks. A copy-and-paste answer!!
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6 hrs   confidence: Answerer confidence 5/5
write back


Explanation:
Write back of provisions for doubtful debts, from the provisions nominal account to the expenses nominal account in the balance sheet, it's just a change of position in the balance sheet debiting one account and crediting other.

Es una recalificación y ajuste en el balance.

Accounts Exp.

Saludos,
Travir




travir (X)
Local time: 09:03
PRO pts in pair: 3
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