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04:46 Apr 27, 2001
English to German translations [PRO] Bus/Financial
English term or phrase:Interest income ... (whole sentence)
I'm having troubles with the following sentence from the Principal Accounting Policies of a Unit Trust:
Interest income is received on daily cash balances with the fund's custodians and is recorded on an accruals basis.
Can anybody explain to me what exactly this means and how to translate it? Thanks in advance!
Explanation: I understand that the interest income is calculated on on the basis of the daily cash balance with each fund custodian, and to be added as capital growth in the books of the fund. In German it would sound something like that: Das Zinseinkommen wird auf täglicher Kassenabschlussbasis von den Treuhandverwaltern berechnet, und als Kapitalzuwachs verbucht