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see below

English translation: See below

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06:27 Jun 21, 2000
German to English translations [PRO]
Bus/Financial
German term or phrase: see below
Forderungen gegen bzw. Verbindlichkeiten gegenuber verbundenen Unternehmen sind durch Saldenbestatigungen nachgewiesen.
Lucia
English translation:See below
Explanation:
In terms of balance sheet items, when dealing with "Forderungen" you're dealing with "receivables" (i.e., incoming money) and, conversely, "Verbindlichkeiten" is what is owed and outgoing, i.e. a "liability." "Verbundene Unternehmen" can be translated as "affiliated companies," while "Saldenbestätigung," as per the Eurodicautom, is a "confirmation of balances." My compilation would be:

"(The amount of) receivables from and liabilities to affiliated companies are documented by account balance confirmations."

If the sentence appears in the notes section to the financial statements you are dealing with (if they are indeed financial statements), then I might say something like:

"(The amount of) receivables from and liabilities to affiliated companies are based on confirmed account balances," if it suits the context.

Romain's Dictionary of Legal and Commercial Terms is an excellent resource for business/financial terminology. I also have a file from a past ATA presentation on German financial statements that I would be happy to forward to you. It has helped me tremendously.

Selected response from:

Cami Townsend
Grading comment
thank you

1 KudoZ points were awarded for this answer

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Summary of answers provided
naSee belowCami Townsend
naaddendumBeth Kantus
naSee belowCami Townsend
nasee belowBeth Kantus
naclaims against...
Dr. Sahib Bleher


  

Answers


8 mins
claims against...


Explanation:
Claims against or obligations towards related companies are documented by balance confirmations.


Dr. Sahib Bleher
Local time: 06:25
Native speaker of: Native in GermanGerman
PRO pts in pair: 219
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25 mins
see below


Explanation:
Confirmation requests were used to verify accounts receivable or payable due from or to affiliated companies..
(Confirmation is a type of documentary evidence secured from outside the client organization and transmitted directly to the auditors. Written acknowledgement of the debt establishes the existence and valuation of the receivable/liability; and in the case of receivables, verifies the ownership of the asset.)


    Pany, Whittington: Auditing
    Dietl/Lorenz Dictionary of Legal, Commercial and Political Terms
Beth Kantus
United States
Local time: 01:25
Native speaker of: English
PRO pts in pair: 924
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29 mins
See below


Explanation:
In terms of balance sheet items, when dealing with "Forderungen" you're dealing with "receivables" (i.e., incoming money) and, conversely, "Verbindlichkeiten" is what is owed and outgoing, i.e. a "liability." "Verbundene Unternehmen" can be translated as "affiliated companies," while "Saldenbestätigung," as per the Eurodicautom, is a "confirmation of balances." My compilation would be:

"(The amount of) receivables from and liabilities to affiliated companies are documented by account balance confirmations."

If the sentence appears in the notes section to the financial statements you are dealing with (if they are indeed financial statements), then I might say something like:

"(The amount of) receivables from and liabilities to affiliated companies are based on confirmed account balances," if it suits the context.

Romain's Dictionary of Legal and Commercial Terms is an excellent resource for business/financial terminology. I also have a file from a past ATA presentation on German financial statements that I would be happy to forward to you. It has helped me tremendously.



Cami Townsend
PRO pts in pair: 227
Grading comment
thank you
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34 mins
addendum


Explanation:
Sorry, I forgot to include a definition of confirmation request for you:
There are two types of confirmation requests, positive and negative. In either case the client makes the formal request for confirmation, although the auditors control the entire process. The positive form is a request addressed to the debtor asking for a reply. Most of these ask the debtor to confirm directly to the auditors the accuracy of the amount shown on the confirmation request. Other types (called blank forms) don't include the amount, but ask the debtor to fill in the balance. Negative forms ask the individual to advise the auditors only if the balance shown is incorrect. A negative confirmation request may be in the form of a letter or it may be made merly by applying a rubber stamp to the customer's regular monthly statement.
Blank forms are often used for confirmation of accounts payable.
HTH!

Beth Kantus
United States
Local time: 01:25
Native speaker of: English
PRO pts in pair: 924
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38 mins
See below


Explanation:
"(The amount of) receivables from and liabilities to affiliated companies (is)/are documented by account balance confirmations."

"(The amount of) receivables from and liabilities to affiliated companies (is)/are based on confirmed account balances."

Realized the grammatical mistake/omission after sending my reply.

Cami Townsend
PRO pts in pair: 227
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