\"ocultamiento y maquillaje\"

English translation: \"concealment and massaging of figures\"

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

Spanish term or phrase:	\"ocultamiento y maquillaje\"
English translation:	\"concealment and massaging of figures\"
Entered by:	Mónica Algazi

17:31 Apr 26, 2018

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

Spanish term or phrase: \"ocultamiento y maquillaje\"

Fulanito de tal convocó a los antiguos accionistas, incluidos sus hijos, a una instancia de conciliación previa, antes de iniciar un juicio por "ocultamiento y maquillaje" que llevaron al desmedro del valor de la tienda.

Any ideas? TIA!

Mónica Algazi KudoZ activity Questions: 666 (none open) (2 closed without grading) Answers: 7736 Uruguay
Local time: 21:16

concealment and fraud

Explanation:
haven't time to give refs

Selected response from:

AllegroTrans
United Kingdom
Local time: 01:16

Grading comment

Muchas gracias. Aprendí muchísimo con cada uno de ustedes.
4 KudoZ points were awarded for this answer

Summary of answers provided

3 +4

concealment and fraud

AllegroTrans

4 +2

cooking the books / accounting fraud / creative accounting

Robert Carter

3 -1

hiding and overdoing things (to the detriment of ..)

Ellen Kraus

Summary of reference entries provided

Delito contable y principales *maquillajes* contables ilegales

Marcelo González

Discussion entries: 6

Answers

8 mins confidence:

peer agreement (net): +4

ocultamiento y maquillaje

concealment and fraud

Explanation:
haven't time to give refs

AllegroTrans
United Kingdom
Local time: 01:16
Specializes in field
Native speaker of:

English
PRO pts in category: 1373

Grading comment

Muchas gracias. Aprendí muchísimo con cada uno de ustedes.

Notes to answerer

Asker: Thank you, AllegroTrans!

34 mins confidence:

peer agreement (net): -1

hiding and overdoing things (to the detriment of ..)

Explanation:
I would suggest

Ellen Kraus
Austria
Local time: 02:16
Specializes in field
Native speaker of:

German
PRO pts in category: 65

Notes to answerer

Asker: Thanks, Ellen.

7 hrs confidence:

peer agreement (net): +2

ocultamiento y maquillaje cooking the books / accounting fraud / creative accounting

Explanation:
What does 'Cook The Books' mean
Cook the books is an idiom describing fraudulent activities performed by corporations in order to falsify their financial statements. Typically, cooking the books involves augmenting financial data to yield previously nonexistent earnings.
https://www.investopedia.com/terms/c/cookthebooks.asp#ixzz5D...

This seems a fairly informal text, so I don't see why "cooking the books" wouldn't work here, but if you need a more formal term, you could use "fraudulent accounting".
Compare the text I've highlighted in bold in the following definition with what is meant by the Spanish term "ocultamiento y maquillaje":

What is accounting fraud?
By Steven Nickolas
Accounting fraud is intentional manipulation of financial statements to create a facade of a company's financial health. It involves an employee, account or the organization itself and is misleading to investors and shareholders. A company can falsify its financial statements by overstating its revenue or assets, not recording expenses and under-recording liabilities.
https://www.investopedia.com/ask/answers/032715/what-account...

Be careful with using "creative accounting" though:

Apart from the expression 'cooking the books' this use of 'cook' has become less common in the 19th and 20th centuries. The preferred euphemism for the manipulation of financial statements has come to be 'creative accounting'. This is first recorded in the 1960s and is attributed to the US comedian Irwin Corey, as in this example from the Middlesboro Daily News, May 1968:
'Professor' Irwin Corey claims his CPA [Certified Public Accountant] isn't exactly crooked - but the government's questioning him about his "creative accounting".
The numerous corporate fraud cases of the 1990s turned public opinion against the semi-admiring tone of 'creative accounting' and journalists stopped using it. That, and the transformation of bookshops, which now seem to sell more coffee and cakes than they do books, has brought about a revival of the term 'cooking the books', which looks like staying with us for some years to come.
https://www.phrases.org.uk/meanings/cook-the-books.html

Robert Carter
Mexico
Local time: 19:16
Specializes in field
Native speaker of:

English
PRO pts in category: 932

Notes to answerer

Asker: Excellent reference and links. Thank you, Robert!

Peer comments on this answer (and responses from the answerer)

agree

Marcelo González: Yes, AllegroTran's "concealment" and, depending on the extent to which 'maquillaje' is used as the name of a crime, something similarly figurative might be considered. Either way, Mónica's got some nice options. :-)

2 hrs

-> Cheers, Marcelo. I feel "accounting fraud" covers both "ocultamiento" and "maquillaje": see quote above about "overstating its revenue or assets, not recording expenses and under-recording liabilities".

agree

Sandro Tomasi: I think cooking the books is good cause it preserves the non-legal register of the original. I don't know why it would not be cover-up, though.

4 days

-> Thanks, Sandro. A cover-up strikes me more as concealment of criminality or of acts that are politically damaging. Perhaps I'm mistaken?

Reference comments

1 hr peer agreement (net): +1

Reference: Delito contable y principales *maquillajes* contables ilegales

Reference information:
Resumen
El maquillaje contable ilegal es un delito ya que vulnera la legislación. Se trata de un engaño que falsea las cuentas u otros documentos contables y suele provocar importantes perjuicios a la empresa o a otras personas. Cuando se descubre el fraude se produce un escándalo que suele acabar con importantes sanciones e inclusive con penas de prisión. Este artículo describe este tipo de maquillajes
https://dialnet.unirioja.es/servlet/articulo?codigo=6062223

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Note added at 10 hrs (2018-04-27 04:15:16 GMT)
--------------------------------------------------

"Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the Books"
https://www.wiley.com/en-us/Financial Statement Fraud Casebo...

Marcelo González
Honduras
Native speaker of:

English
PRO pts in category: 186

Note to reference poster

Asker: ¡Gracias, Marcelo! Saludos.

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\"ocultamiento y maquillaje\"

English translation: \"concealment and massaging of figures\"

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