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recargos sobre primas, se registran en resultados cuando se cobran

English translation: premium surcharges shall be accounted for in the balance when collected

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

Spanish term or phrase:	recargos sobre primas, se registran en resultados cuando se cobran
English translation:	premium surcharges shall be accounted for in the balance when collected
Entered by:	Sergio Gaymer

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20:18 Sep 30, 2009

Spanish to English translations [PRO]
Bus/Financial - Finance (general)

Spanish term or phrase: recargos sobre primas, se registran en resultados cuando se cobran

Los derechos de póliza y los recargos sobre primas se registran en resultados cuando se cobran y no cuando se devengan.

This is what I have so far: Policy rights and the premium surcharges are registered as earnings when they are received and not when they are accrued.

Finance is not my specialty but I'm doing this as a favor for a CFO. Any feedback would be GREAT. Gracias!

mwagner920

premium surcharges shall be recorded in the balance when collected

Explanation:
:)

Selected response from:

Sergio Gaymer
Chile
Local time: 00:43

Grading comment

Thanks, this was terrific! :-)
4 KudoZ points were awarded for this answer

Summary of answers provided

4 +4

premium surcharges shall be recorded in the balance when collected

Sergio Gaymer

premium surcharges will be taken into income once collected

patinba

5 -1

revenue from......is recognized on a cash-basis and not an accrual-basis

mgdletters

5 -1

surcharges on premiums are expensed when collected

Richard Cadena

Summary of reference entries provided
	cmwilliams

Answers

39 mins confidence:

peer agreement (net): +4

premium surcharges shall be recorded in the balance when collected

Explanation:
:)

Sergio Gaymer
Chile
Local time: 00:43
Works in field
Native speaker of: Spanish
PRO pts in category: 56

Grading comment

Thanks, this was terrific! :-)

50 mins confidence:

peer agreement (net): -1

revenue from......is recognized on a cash-basis and not an accrual-basis

Explanation:
As it seems this has to do with revenue recognition derived from premium surcharges. In the US, unlike what happens in most EU countries, revenue is typically recognized / accounted for on a cash-basis / as it hits receivables

In this context a more field specific translation could be

revenue derived from premium surchares will be reconized on a cash-basis and not when this revenue is accrued / on an accrual-basis

Hope it helps

mgdletters
Spain
Local time: 08:43
Works in field
Native speaker of:

Spanish,

English
PRO pts in category: 8

1 hr confidence:

peer agreement (net): -1

surcharges on premiums are expensed when collected

Explanation:
This is accounting terminology. Following is another way to translate this phrase:

Surcharges on premiums are charged to income when collected.
or
Surcharges on premiums are included in income when collected.

Note that the use of "to expense" as a verb is strictly for accounting purposes.

Hope this helps.
In my 21st year of translating for Mexico City based member firms of big 4 and second tier international public accounting firms (PwC, KPMG, Grant Thornton, RSM, etc.), as well as other financial entities.

Reference: http://aicpa.org
Reference: http://imcp.org.mx

Richard Cadena
Mexico
Local time: 01:43
Specializes in field
Native speaker of:

English
PRO pts in category: 331

5 mins confidence:

premium surcharges will be taken into income once collected

Explanation:
in accounting terminology

--------------------------------------------------
Note added at 3 hrs (2009-09-30 23:35:51 GMT)
--------------------------------------------------

literally: registrar en resultados = record on the the income statement. Not "in the balance" or "on a balance", but possibly "on the balance sheet"

patinba
Argentina
Local time: 03:43
Specializes in field
Native speaker of:

English
PRO pts in category: 564

Reference comments

2 hrs

Reference

Reference information:
Derechos de póliza would be policy fees

http://www.mapfre.com/wdiccionario/terminos/vertermino.shtml...

cmwilliams
United Kingdom
Works in field
Native speaker of:

English
PRO pts in category: 12

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Changes made by editors

Oct 5, 2009 - Changes made by Sergio Gaymer:
Edited KOG entry	Sergio Gaymer's old entry - "recargos sobre primas, se registran en resultados cuando se cobran" => "premium surcharges shall be accounted for in the balance when collected"
Oct 5, 2009 - Changes made by Sergio Gaymer:
Created KOG entry	KudoZ term => KOG term

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recargos sobre primas, se registran en resultados cuando se cobran

English translation: premium surcharges shall be accounted for in the balance when collected

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recargos sobre primas, se registran en resultados cuando se cobran

English translation: premium surcharges shall be accounted for in the balance when collected

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KudoZ™ translation helpThe KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

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The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.