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por diferencias temporales en el pasivo

English translation: due to timing differences in the accounting for liabilities

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:por diferencias temporales en el pasivo
English translation:due to timing differences in the accounting for liabilities
Entered by: Adam Burman
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16:09 Nov 7, 2007
Spanish to English translations [PRO]
Bus/Financial - Accounting
Spanish term or phrase: por diferencias temporales en el pasivo
I am not 100% about the end of this sentence.

Como se menciona en la nota 6-1 de los estados financieros que forman parte de los mismo, la compañía no ha reconocido en su información la norma emitida por el Consejo Mexicano para la Investigación y Desarrollo de Normas de Información Financiera Mexicanas denominado “Tratamiento Contable del Impuesto Sobre la Renta, Impuesto al Activo y de la Participación de los Trabajadores en las Utilidades” (NIF D-4), cuya aplicación es obligatoria a partir del 1º de enero del año 2000 y en consecuencia, se desconoce el monto y efecto diferido de este boletín en la información financiera por diferencias temporales en el pasivo y capital contable de la compañía.

As mentioned in note 6-1 of the financial statements of which it forms part, the company has not recognised in its financial information the standard set out by the Mexican Board for Research and Development of Mexican Standards for Financial Information known as the “Accounting Treatment of Income Tax, Asset Tax and Worker Participation in Profits" (NIF D-4), the application of which is compulsory from 1st January 2000 and, therefore, the amount and deferred effect that this will have on financial information is unknown...
Adam Burman
United Kingdom
Local time: 13:49
due to timing differences in the accounting for liabilities
Explanation:
the last part is a bit unclear to me too - is the effect due to timing differences, or the fact that the effect is unknown?
It could read "... the amount and deferred effect that this will have on financial information due to timing differences in the accounting for the company's liabilities and capital is, therefore, unknown.
Selected response from:

Helen Johnston
Spain
Local time: 14:49
Grading comment
Thanks Helen!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2... timing differences on the liabilities side ...
Chris Lancaster
3 +2due to timing differences in the accounting for liabilities
Helen Johnston
5 -1due to the temporary differences in the company’s liabilities and shareholders’ equity
Richard Cadena


Discussion entries: 2





  

Answers


14 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
due to timing differences in the accounting for liabilities


Explanation:
the last part is a bit unclear to me too - is the effect due to timing differences, or the fact that the effect is unknown?
It could read "... the amount and deferred effect that this will have on financial information due to timing differences in the accounting for the company's liabilities and capital is, therefore, unknown.

Helen Johnston
Spain
Local time: 14:49
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 35
Grading comment
Thanks Helen!

Peer comments on this answer (and responses from the answerer)
agree  Maria523
2 hrs
  -> THANKS

agree  xxxAdrian MM.: www.proz.com/kudoz/487033
1 day47 mins
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16 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
... timing differences on the liabilities side ...


Explanation:
How I see it

Chris Lancaster
Spain
Local time: 14:49
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
agree  John Rynne
2 mins
  -> Thanks, John

agree  xxxAdrian MM.: www.proz.com/kudoz/487033
1 day44 mins
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4 hrs   confidence: Answerer confidence 5/5 peer agreement (net): -1
due to the temporary differences in the company’s liabilities and shareholders’ equity


Explanation:
Most of the time, temporary differences arise between between book value and tax value of assets and liabilities. US accounting literature always use the term "temporary differences".

Reference:
Accounting Trends & Techniques published annually by the AICPA
All editions

The following paragraphs where the term "temporary differences" are transcribed verbatim from the 57th edition (2003) of Accounting Trends & Techniques published by the AICPA:

Page 430
Deferred income taxes reflect the expected utilization of tax net operating loss carryforwards, tax credit carryforwards and the net tax effects of "temporary differences" between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.

Page 431
Note 1 (In Part) Description of the business and Summary of Significant Accounting Policies

Income Tax
Deferred income taxes have been provided under the liability method. Deferred tax assets and liabilities are determined based upon the estimated future tax effects of "temporary differences" between the financial statement and tax bases of assets and liabilities, as measured by the current enacted tax rates.

Page 435
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the "temporary differences" become deductible.

Note of interest: Accounting Trends & Techniques is a highly valuable monolingual reference, since it is comprised of extracts of financial statements of the 600 most important companies in the US, taken from audits performed by the top tier (big 4) accounting firms.

Hope this helps.

--------------------------------------------------
Note added at 4 hrs (2007-11-07 20:42:58 GMT)
--------------------------------------------------

Suggestion on the verb "mencionar" in Spanish. None of the monolingual material I have used has ever used the verb "mention" in these formal contexts. For example:

Spanish:
Como se menciona en la Nota X a los estados financieros
or
Como se comenta en la Nota X a los estados financieros

English:
As discussed in Note X to the financial statements

Comment: The verb "discuss" is found everywhere in publications such as "Accounting Trends & Techniques" in the same settings.

On the other hand, it is not necessary to change verbs like "explicar" and "describir", for example:

Spanish:
Como se describe en la Nota X a los estados financieros,

English:
As described in Note X to the financial statements,

Spanish:
Como se explica en la Nota X a los estados financieros,

English:
As explained in Note X to the financial statements,

The verb "to mention" in English is more of a conversational word used in less formal, more casual situations. At least, this is my impression.



Richard Cadena
Mexico
Local time: 07:49
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 650

Peer comments on this answer (and responses from the answerer)
disagree  xxxAdrian MM.: you conflated and fused temporales o temporarias on your last answer: www.proz.com/kudoz/1934240
20 hrs
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