Spanish translation: expresión o cálculo en cifras netas / expresado o calculado en cifras netas o sobre una base neta
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:
netting-out / netted out
expresión o cálculo en cifras netas / expresado o calculado en cifras netas o sobre una base neta
English to Spanish translations [PRO] Bus/Financial
English term or phrase:netting-out / netted out
If, in the course of an accounting period, information comes to light which necessitates the re-lease of a provision created in preceding periods of the same financial year, then the release is to be recorded and recognised as income in the period in which this need arises. This may result in, for example, a provision for anticipated losses being recognised as an expense in the first quarter and then in the following quarter, owing to new information, being released and recognised as income. In the cumulative presentation of the half-yearly financial statements and also the annual financial statements, these transactions must be netted out. As such corresponding expense and income entries relating to one and the same transaction cannot be recognised and thus cleared at the consolidation level, netting-out is performed in the cumulative financial statements by the individual company.