English translation: Booking to the P&L; Recognition on the P&L
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Explanation: Here they are indicating when the income (and corresponding cost) will be recognized, which is with sale (effective delivery of the unit (vivienda to the purchaser). At this point the income and cost (or proportional part in, say a condo project) will be recongized, and posted to the income statement (Sp: Estado de Ganacias y Perdidas /Perdidas y Ganacias- G&P or P&G) a.k.a the Profit and Loss Statement (P & L)
RichardDeegan Local time: 04:41 Specializes in field Native speaker of: English PRO pts in category: 24