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RM-nahe Anästhesie
h.s.

Glossary entry

German term or phrase:

in laufender Rechnung

English translation:

in the current period (Gewinn-und-Verlust-Rechnung)

Added to glossary by Erzsébet Czopyk
Feb 26, 2022 13:12
2 yrs ago
42 viewers *
German term

in laufender Rechnung

German to English Bus/Financial Accounting
Enthalten im Jahresergebnis ist ein nunmehr periodenfremd in laufender Rechnung umgegliederter Steueransatz in Höhe von...

I'm trying to wrap my head around this one and find a nice way to phrase it. As I understand it, the company's annual result contains tax from a prior period which is now being reclassified on an ongoing basis. But does that even make any sense?
Proposed translations (English)
3 +2 in the current period (Gewinn-und-Verlust-Rechnung)
3 current account
3 on an ongoing basis
2 (tax) on a carry-forward basis; (otherwise) on an all-monies, carry-over basis
1 in the running account / current accounting period /on a going concern basis
References
"in laufender Rechnung" means in the rep...
Change log

Mar 12, 2022 17:41: Erzsébet Czopyk Created KOG entry

Discussion

Birgit Gläser Mar 1, 2022:
with Steve This simply means that restructured taxes from another financial year are accounted for in the current financial year... and further down in the sentence it probably explains that this dented the current P&L in a more or less severe manner....

And since the sentence refers to the annual results, the period in question is the financial year.
Steve Robbie Feb 27, 2022:
"in laufender Rechnung" means in the reporting period, but if you want us put your mind at rest and tell you exactly what's going on here, you need to tell us more about the accounts, e.g. where precisely does this entry appear, are the accounts drawn up under HGB, IFRS or neither, etc.

In general though, it looks as if your Steueransatz has been accounted for in the reporting period even though it is not proper to the period (= periodenfremd). Although I can't tell where exactly it has been umgegliedert from (from another period or from elsewhere in the accounts)

Proposed translations

+2
2 hrs
Selected

in the current period (Gewinn-und-Verlust-Rechnung)

Profit, loss and other comprehensive income | ACCA Global
https://www.accaglobal.com › student › technical-articles
Reclassification adjustments are amounts recycled to profit or loss in the current period that were recognised in OCI in the current or previous periods.

Illustrative IFRS consolidated financial statements for 2020 ...
https://www.pwc.com › ifrs › ifrs_kiadvanyok › Illu...PDF
Dec 31, 2020 — Reclassification adjustments are amounts reclassified to profit or loss in the current period that were recognised in other comprehensive ...


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Note added at 20 óra (2022-02-27 09:44:09 GMT)
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reporting period this is exactly what you need (but please, indicate in the parentheses (profit and loss statement) to be clear.
Peer comment(s):
agree RobinB : Exactly. Though in this case it could also be the "reporting period" if the German text rather confusingly refers to the previous period.
11 hrs
Thank you very much, RobinB!
agree Steve Robbie : Yes, "in the reporting period" is what it means. n.b. your references refer specifically to reclassifications from OCI to profit or loss under IFRS; it's not certain that that is actually what is going on here.
1 day 2 hrs
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4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
1 hr

in the running account / current accounting period /on a going concern basis

running account / going concern basis

the annual result contains tax in the amount of ... from a prior accounting period which is reclassified in the running account / current account period / on a going concern basis

umgliedern | German to English | Accounting - ProZ.com
https://www.proz.com › accounting
... in das ausserordentliche Ergebnis *umgegliedert* wurden. Aufgrund der vorgenommenen *Umgliederungen*, sind die so ermittelten Vergangenheitsergebnisse ...

in laufender Rechnung | German to English | Finance (general)
https://www.proz.com › kudoz › 1...
25 jul. 2006 — in laufender Rechnung · English translation: as (a) running account(s) · Answers · KudoZ™ translation help.

Periodenfremd | German to English | Accounting - ProZ.com
https://www.proz.com › accounting
3 mar. 2005 — German term or phrase: Periodenfremd. Appears in annual report: Periodfremde Aufwendungen (did not find this in the glossaries) ...

periodenfremd | German to English | Accounting - ProZ.com
https://www.proz.com › accounting
27 abr. 2001 — German term or phrase: periodenfremd. In den Zinsen und aehnlichen Aufwendungen sind periodenfremde Aufwendungen enthalten.
Peer comment(s):
neutral Andrew Bramhall : Possibly the middle one, not the other two;
16 hrs
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6 hrs

(tax) on a carry-forward basis; (otherwise) on an all-monies, carry-over basis

I thought - the Transblawg entry including any Robin B. comments - having disappeared - all-monies or all-accounts basis had been the conventional wisdom.

Current account could be a false friend cf. Kontokorrent doubling as an overdraft facility (Zahn), no one size tentatively fitting all tax and non-tax cases.

Carry-back, -across in the same year and *carry-forward*, pace our accountants, relates rather to tax loss relief.
Example sentence:

— A carryover basis is a method used to determine an assets tax basis ... a tax on a carryover basis on every asset that a person inherits.— A carryover basis is a method used to determine an assets tax basis.

The company carried its losses forward to the next year. Die Firma trug ihre Verluste auf das nächste Jahr vor.

Reference:

http://www.proz.com/kudoz/german-to-english/finance-general/1469728-in-laufender-rechnung.html

http://www.proz.com/kudoz/german-to-english/finance-general/1071870-ziehung-[in-laufender-rechnung]-v-inanspruchnahme.html

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6 hrs

current account

The annual result includes a now outside the period, taxable item having been reclassified for the current account in the amount of.....$$$
Something went wrong...
12 hrs

on an ongoing basis

your own "on an ongoing basis" fits well IMO as opposed to anything with "running account"

Running account is an open, unsettled, revolving credit facility offered by a seller to a buyer. Using a running account, a buyer can continually buy or obtain goods or services up to the limit agreed with the seller. Amounts paid by the buyer can be used for making further purchases.

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Note added at 12 hrs (2022-02-27 01:27:54 GMT)
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don't wrap your head as you won't be able to see lol
Peer comment(s):
agree Andrew Bramhall : In all honesty, a neutral, unambiguous, idea lie this one works best here in my opinion
5 hrs
thanks Andrew
disagree Erzsébet Czopyk : in laufender Rechnung **umgegliederter Steueransatz** - we clearly deal with a tax account
8 hrs
mal sehen
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Reference comments

1 day 4 hrs
Reference:

"in laufender Rechnung" means in the reporting period, but if you want us put your mind at rest and tell you exactly what's going on here, you need to tell us more about the accounts, e.g. where precisely does this entry appear, are the accounts drawn up under HGB, IFRS or neither, etc.
Something went wrong...
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