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deudores por anticipos

English translation: prepayments

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16:10 Dec 21, 2003
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: deudores por anticipos
In accounting text
Neil Rear
United Kingdom
Local time: 20:53
English translation:prepayments
Explanation:
If these are accounts, then two items will appear on the Dr and Cr sides of teh balance sheet.

Arrears: referring to money owed but past due.

Prepayments: referring to money paid in advance.

It is not simply debtors or creditors, becuase it refers, for example, to an electricity or phone bill, which for accounting purposes, is allocated in a particular way.

So in my Balance Sheet, which is an exact pictiure of a company's financial poistion at the 31st Dec, if I have a bill for electricity for Dec and Jan that I paid on 1 Dec, I can only enter as an expense (in the profit and loss) the part that refers to the current financial year, i.e. Dec. The remaining part (i.e. Jan) will be treated as a prepayment,in the Balance Sheet, as an asset.



--------------------------------------------------
Note added at 2003-12-21 17:01:41 (GMT)
--------------------------------------------------

anticipo --> advance, advance payment, prepayment, down payment

In terms of teh dictinction between \'debtors/payables\' and \'prepayments\', if a debtor pays \'in advance\' it simply reduces their outstanding balance. \'Prepayments\' is an accounting concept related to expenses incurred in teh operation of a company, and is not related to the direct business of buying and selling itslef.

By the way, \'accruals\' seems to be a preferred term over \'arrears\'.
FROM:http://www.google.es/search?q=cache:j0tgN7isg8oJ:www.ifa.org...

Explain how the Four Fundamental Accounting Concepts relate to Prepayments and Accruals

Record Opening and Closing Balances in Income and Expense Accounts relating to-

Payments in Advance, Receipts in Advance,

Payments in Arrears, Receipts in Arrears

Record Monies Received and Paid in Income and Expense Accounts

Apply the Matching Concept to record the transfer of Income earned and Expense incurred from the Ledger Accounts to the Profit and Loss Account

Record Closing Balances relating to Prepayments and Accruals on Income and Expense Accounts in the Balance Sheet

Selected response from:

xxxLia Fail
Spain
Local time: 21:53
Grading comment
Graded automatically based on peer agreement.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2prepaymentsxxxLia Fail
5payables - advances
Marian Greenfield
4debtors for sums advanced
Michael Powers (PhD)


  

Answers


1 min   confidence: Answerer confidence 4/5Answerer confidence 4/5
debtors for sums advanced


Explanation:
Oxford Business Dictionary

Mike :)

Michael Powers (PhD)
United States
Local time: 15:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 12665
Login to enter a peer comment (or grade)

3 mins   confidence: Answerer confidence 5/5
payables - advances


Explanation:
Comprehensive Accounting E-Learning Using the Almaris Financial ...
... the attributes and classification of debt securities, and accounting for held ... statement,
the effect of contributions, receivables and payables, advances paid by ...
www.almaris.com/fact/fact-contents.htm - Similar pages

Notes to Basic Financial Statements Table of Contents
... 42. C. Measurement focus, basis of accounting, and financial statement presentation
... ... 56. D. Interfund receivables, payables, advances, and operating transfers ...
www.cityofsalem.net/~sfinance/NamedDocuments/ Notes_%20table_of_Contents.htm - 55k - Cached - Similar pages

[PDF] INCOME STATEMENT Value of pro duction /000 2,413,529 Cost of ...
File Format: PDF/Adobe Acrobat - View as HTML
... debt that a rose in June as a result of accounting delays on the ... APPENDIX 4 30.09.2002
Secured by Unsecured Total company assets Payables Advances 1,157 1,157 ...
www.etispa.it/pdfdoc/USAnera_4.pdf - Similar pages

User Guide
... with no interest = Trade payables + Non-trade payables + Advances receipts + Withholdings ...
While management Index based on accounting profit reflects only ...
stock.nice.co.kr/eng/2003/4Q/help/userguide.html - 56k - Cached - Similar pages

[PDF] TEXAS COMMISSION ON FIRE PROTECTION
File Format: PDF/Adobe Acrobat - View as HTML
... NOTES TO THE FINANCIAL STATEMENTS consumption method of accounting is used ... paid are
reported as Interfund Receivables or Interfund Payables, Advances From or ...
www.tcfp.state.tx.us/reports/stat_req/afr-2003.pdf - Similar pages

[DOC] I
File Format: Microsoft Word 2000 - View as HTML
... ii. Typical items: Payables, advances from customers, current portion of
long-term debt, ... ... B. Mechanics of the accounting process. 1. Overview. ...
us.badm.washington.edu/emba505b/ documents/TO%20SW%202.doc - Similar pages

[PDF] w & h annual rpt 2002
File Format: PDF/Adobe Acrobat - View as HTML
... all amounts arising from differences between the accounting results and ... Position include
cash and bank balances, receivables, payables, advances and borrowings ...
www.wilsonandhorton.co.nz/press_releases_and_awards/ pdf/wilsonhortonreport2002.pdf - Similar pages

[PDF] TSBPARFDFTYEA 31, 2002
File Format: PDF/Adobe Acrobat - View as HTML
... The consumption method of accounting is used to account for inventories that ... paid
are reported as Interfund Receivables or Interfund Payables, Advances From or ...
www.tsbp.state.tx.us/files_pdf/afr2002.pdf - Similar pages

[PDF] OILINK INTERNATIONAL CORPORATION AND SUBSIDIARY - FS.xls
File Format: PDF/Adobe Acrobat
... Payables to Foreign Entities, specify Others, specify Trade payables Advances from
suppliers Non ... E) 71,937 21,769 Effect of Changes in Accounting Policy Surplus ...
203.167.80.132/fs/2002/o/ OILINK%20INTL.%20CORP.%20&%20SUB%20-GFFS02.pdf - Similar pages



    20 years in the business - most of it managing translation service for an investment bank
Marian Greenfield
Local time: 15:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 14613
Login to enter a peer comment (or grade)

32 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
prepayments


Explanation:
If these are accounts, then two items will appear on the Dr and Cr sides of teh balance sheet.

Arrears: referring to money owed but past due.

Prepayments: referring to money paid in advance.

It is not simply debtors or creditors, becuase it refers, for example, to an electricity or phone bill, which for accounting purposes, is allocated in a particular way.

So in my Balance Sheet, which is an exact pictiure of a company's financial poistion at the 31st Dec, if I have a bill for electricity for Dec and Jan that I paid on 1 Dec, I can only enter as an expense (in the profit and loss) the part that refers to the current financial year, i.e. Dec. The remaining part (i.e. Jan) will be treated as a prepayment,in the Balance Sheet, as an asset.



--------------------------------------------------
Note added at 2003-12-21 17:01:41 (GMT)
--------------------------------------------------

anticipo --> advance, advance payment, prepayment, down payment

In terms of teh dictinction between \'debtors/payables\' and \'prepayments\', if a debtor pays \'in advance\' it simply reduces their outstanding balance. \'Prepayments\' is an accounting concept related to expenses incurred in teh operation of a company, and is not related to the direct business of buying and selling itslef.

By the way, \'accruals\' seems to be a preferred term over \'arrears\'.
FROM:http://www.google.es/search?q=cache:j0tgN7isg8oJ:www.ifa.org...

Explain how the Four Fundamental Accounting Concepts relate to Prepayments and Accruals

Record Opening and Closing Balances in Income and Expense Accounts relating to-

Payments in Advance, Receipts in Advance,

Payments in Arrears, Receipts in Arrears

Record Monies Received and Paid in Income and Expense Accounts

Apply the Matching Concept to record the transfer of Income earned and Expense incurred from the Ledger Accounts to the Profit and Loss Account

Record Closing Balances relating to Prepayments and Accruals on Income and Expense Accounts in the Balance Sheet



xxxLia Fail
Spain
Local time: 21:53
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1368
Grading comment
Graded automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Alfred Delgado
15 mins

agree  Jose Paez
6 hrs
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