Glossary entry (derived from question below)
Italian term or phrase:
Riclassifica effetto economico
English translation:
Reclassification out of profit or loss
Added to glossary by
Paul O'Brien
Jun 24, 2015 09:36
8 yrs ago
5 viewers *
Italian term
Argentina
Legal and environment specialist, PhD
Native in: English 
Works in: Italian to English, Spanish to English, English
Riclassifica effetto economico
Italian to English
Bus/Financial
Finance (general)
Thanks for any help with this item in an annual report. I haven't the faintest what it means.
Proposed translations
(English)
| 5 | Reclassification out of profit or loss |
James (Jim) Davis
|
| 4 +1 | Accounts reclassified to account for IAS |
Jane Jachnik
|
Proposed translations
1 day 19 mins
James (Jim) Davis
Seychelles
Seychelles
Native in English
Specializes in field
Seychelles
25 years experience constantly improving
Native in: English (Variant: British)
Works in: Italian to English
Related KudoZ points
:
4516
Selected
Reclassification out of profit or loss
Hi Pauley,
The income statement in Italian is the "conto economico" so often the adjective means to do with the income statement. Under IAS/IFRS when something is put in income statement rather than the balance sheet the term used is "through profit or loss".
It seems fairly clear that they have changed their accounting methods for items dealt with by IAS 19 (employee benefits). This can happen for various reasons. As a result they have had to reclassify IAS 19 items. Since they use the term “effetto economico” they must have reclassified out of profit or loss into equity, otherwise they would have said something like “rigiro al conto economico”. In the translation I would put "IAS 19" in brackets.
https://www.google.com/search?source=ig&hl=en&rlz=&=&q="...
https://www.google.com/search?source=ig&hl=en&rlz=&=&q="...
https://www.google.com/search?source=ig&hl=en&rlz=&=&q="... ...
The income statement in Italian is the "conto economico" so often the adjective means to do with the income statement. Under IAS/IFRS when something is put in income statement rather than the balance sheet the term used is "through profit or loss".
It seems fairly clear that they have changed their accounting methods for items dealt with by IAS 19 (employee benefits). This can happen for various reasons. As a result they have had to reclassify IAS 19 items. Since they use the term “effetto economico” they must have reclassified out of profit or loss into equity, otherwise they would have said something like “rigiro al conto economico”. In the translation I would put "IAS 19" in brackets.
https://www.google.com/search?source=ig&hl=en&rlz=&=&q="...
https://www.google.com/search?source=ig&hl=en&rlz=&=&q="...
https://www.google.com/search?source=ig&hl=en&rlz=&=&q="... ...
4 KudoZ points awarded for this answer.
+1
47 mins
Accounts reclassified to account for IAS
It would seem to mean the effect of adjustments/reclassification made to annual statements to account for the application of various IAS - in this case IAS 19, I understand.
Does that make sense?!
Does that make sense?!
Reference:
http://www.iasplus.com/en-gb/standards/ias/ias19
http://www.bdointernational.com/Services/Audit/IFRS/IFRS%20at%20a%20Glance/Documents/IAS%2019.pdf
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