\"ocultamiento y maquillaje\"

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

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:\"ocultamiento y maquillaje\"
English translation:\"concealment and massaging of figures\"
Entered by: Mónica Algazi
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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!
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Mónica Algazi
Uruguay
Local time: 11:25
concealment and fraud
Explanation:
haven't time to give refs
Selected response from:

AllegroTrans
United Kingdom
Local time: 15:25
Grading comment
Muchas gracias. Aprendí muchísimo con cada uno de ustedes.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +4concealment and fraud
AllegroTrans
4 +2cooking the books / accounting fraud / creative accounting
Robert Carter
3 -1hiding 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: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +4
ocultamiento y maquillaje
concealment and fraud


Explanation:
haven't time to give refs

AllegroTrans
United Kingdom
Local time: 15:25
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1349
Grading comment
Muchas gracias. Aprendí muchísimo con cada uno de ustedes.
Notes to answerer
Asker: Thank you, AllegroTrans!


Peer comments on this answer (and responses from the answerer)
agree  David Hollywood: nice
4 mins
  -> thanks

agree  Marcelo González
52 mins
  -> thanks

agree  Sandro Tomasi: Ditto on cover-up. // Exactly. Just as “maquillaje” is not a legal term either.
1 hr
  -> thanks, but "cover up" would never be used in formal legal language

agree  Robert Carter: As per Marcelo's ref., I don't think it means "cover-up" in any case. The informal term would be "cooking the books", so although "fraud" is okay, perhaps "falsifying accounts" would be more specific?
7 hrs
  -> thanks and yes
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34 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
hiding and overdoing things (to the detriment of ..)


Explanation:
I would suggest

Ellen Kraus
Austria
Local time: 16:25
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 61
Notes to answerer
Asker: Thanks, Ellen.


Peer comments on this answer (and responses from the answerer)
neutral  Robert Forstag: I am fairly certain that the term "overdoing things" would not be used as part of a criminal or civil charge anywhere in the English-speaking world.
36 mins

disagree  AllegroTrans: NOT the language of law
39 mins
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7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 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: 09:25
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 872
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?
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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

--------------------------------------------------
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: Native in EnglishEnglish
PRO pts in category: 186
Note to reference poster
Asker: ¡Gracias, Marcelo! Saludos.


Peer comments on this reference comment (and responses from the reference poster)
agree  Robert Carter: "False accounting"?
5 hrs
  -> "fraudulent accounting practices" or "financial statement fraud" perhaps
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