aux résultats du plus ancien des exercices non prescrit
English translation: see explanation below
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12:09 Mar 27, 2003
French to English translations [PRO] Bus/Financial
French term or phrase:aux résultats du plus ancien des exercices non prescrit
I am struggling to make sense of the very end of this sentence so any suggestions would be gratefully received! 'la provision irrégulière dès l'origine, doit être rapportée au résultat de l'exercice au cours duquel elle a été constituée (ou, si cet exercice est couvert par la prescription, aux résultats du plus ancien des exercices non prescrit à l'ouverture duquel elle a été reconduite.'Thanks in advance for your help
Explanation: The irregular provision must, at the outset, be carried back to the net result of the financial year in which it was formed (or, if that year is subject to prescription, to the earliest financial year that was not subject to prescription on the starting date to which the provision was carried back).
This just means that the provision (reserve fund) should be reported retroactively in the financial statements of the year in which the provision was set aside, instead of in the current year. If the provision was formed so long ago that it is subject to a statute of limitations ("prescription"), then it should be reported in the earliest year not subject to such prescription.
Explanation: Any irregular supply (deposit, provision, stock - dépend du contexte)as from the beginning, must be transferred to the year during which this irregularity has occurred, or, if this year is covered by prescription, from the results of the last valid year as from which it has been reconducted.