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  3. Law: Taxation & Customs

Aufstellungs- und Offenlegungserleichterungen

English translation: exemptions (in regard to preparation and disclosure, if you will)

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Aufstellungs- und Offenlegungserleichterungen
English translation:exemptions (in regard to preparation and disclosure, if you will)
Entered by: Ronald Shankland

22:44 May 22, 2012
German to English translations [PRO]
Bus/Financial - Law: Taxation & Customs / Tax consultant's contract to prepare the annual financial report for a small business.
German term or phrase: Aufstellungs- und Offenlegungserleichterungen
Dies galt in gleicher Weise für die von unserem Auftraggeber zu treffenden Entscheidungen über die Anwendung von Aufstellungs- und Offenlegungserleichterungen des Jahresabschlusses für kleine und mittelgroße Gesellschaften.
Ronald Shankland
Germany
Local time: 12:58
exemptions (in regard to preparation and disclosure, if you will)
Explanation:
Why the "if you will"? Cuz this KudoZ answer provided by the God of Financial Reporting himself ;-) (agreed to by his girl ;-) Maria and a celebrity archangel ;-)) suggests that "Aufstellung" not be translated as it is implied, which I think might go for Offenlegung (which means disclosing items and balance sheet figures etc. to the public in order for them to be informed about the company's financial situation and asset situation, for instance, for enabling them to take appropriate stock exchange investment decisions regarding the company's stock or its bonds, as bond ratings indicating likelihood of default of the issuer (the company) are directly related to the level of healthiness of figures) also.

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Note added at 16 hrs (2012-05-23 15:06:32 GMT)
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Mary it is English

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Note added at 1 day9 hrs (2012-05-24 07:49:07 GMT)
--------------------------------------------------

I have found this:
http://books.google.de/books?id=-poFB8m-GjMC&pg=PA1457&lpg=P...

which seems to be official IFRS wording (seemingly by the IASB)

--------------------------------------------------
Note added at 1 day9 hrs (2012-05-24 07:56:45 GMT)
--------------------------------------------------

Which is not to say it were necessarily IFRSs (International Financial Reporting Standards) that were or had to be applied at the time of preparing the financial statements since we're talking about a German-speaking country and a small to medium-sized business, which suggests there might have been the option to apply German GAAP (=financial accounting in line with the German Commercial Code/HGB)/Austrian GAAP etc. In some cases (well, AFAIK) it is even imperative to apply these with smaller businesses.
Selected response from:

Sebastian Witte
Germany
Local time: 12:58
Grading comment
Excellent, thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2public filing and disclosure exemptions
Michael Martin, MA
4 +1exemptions (in regard to preparation and disclosure, if you will)
Sebastian Witte


Discussion entries: 4





  

Answers


12 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
public filing and disclosure exemptions


Explanation:
Not completely sure without more context but hope this may be correct..

--------------------------------------------------
Note added at 1 day6 hrs (2012-05-24 04:45:30 GMT)
--------------------------------------------------

Based on input and sources below, I'd probably either use philgoddard's sugggestion or "filing simplifications and disclosure exemptions"

http://www.doblerundpartner.de/documents/publikation/offenle...


    Reference: http://smallbusiness.chron.com/change-smallbusiness-sharehol...
Michael Martin, MA
United States
Local time: 06:58
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 53
Notes to answerer
Asker: Thank you, Michael!


Peer comments on this answer (and responses from the answerer)
agree  philgoddard: "Simplified filing and disclosure requirements" would be closer to the German, but this is the right kind of idea.
49 mins
  -> Thanks. Point taken!
neutral  Sebastian Witte: I can't translate that expression properly into a fixed English one that googles well but Aufstellung means preparation of the financial statements, right? Where does filing come into the picture then? That is a different concept, I guess?
12 hrs
  -> The prep work is easier but the point is that this will lead to simplified filing
agree  Vikki Pendleton: Sebastian Witte - in English you 'file' a tax return or a company report which means submitting it to the authorities rather than putting it in a folder. Hope that clears it up.
14 hrs
  -> Thanks.
neutral  Steffen Walter: Fully with Sebastian. The "Aufstellung" of financial statements/annual reports is usually translated as "preparation" (and is different from "filing" in the sense of "Einreichung/Abgabe/Vorlage").
17 hrs
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15 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
exemptions (in regard to preparation and disclosure, if you will)


Explanation:
Why the "if you will"? Cuz this KudoZ answer provided by the God of Financial Reporting himself ;-) (agreed to by his girl ;-) Maria and a celebrity archangel ;-)) suggests that "Aufstellung" not be translated as it is implied, which I think might go for Offenlegung (which means disclosing items and balance sheet figures etc. to the public in order for them to be informed about the company's financial situation and asset situation, for instance, for enabling them to take appropriate stock exchange investment decisions regarding the company's stock or its bonds, as bond ratings indicating likelihood of default of the issuer (the company) are directly related to the level of healthiness of figures) also.

--------------------------------------------------
Note added at 16 hrs (2012-05-23 15:06:32 GMT)
--------------------------------------------------

Mary it is English

--------------------------------------------------
Note added at 1 day9 hrs (2012-05-24 07:49:07 GMT)
--------------------------------------------------

I have found this:
http://books.google.de/books?id=-poFB8m-GjMC&pg=PA1457&lpg=P...

which seems to be official IFRS wording (seemingly by the IASB)

--------------------------------------------------
Note added at 1 day9 hrs (2012-05-24 07:56:45 GMT)
--------------------------------------------------

Which is not to say it were necessarily IFRSs (International Financial Reporting Standards) that were or had to be applied at the time of preparing the financial statements since we're talking about a German-speaking country and a small to medium-sized business, which suggests there might have been the option to apply German GAAP (=financial accounting in line with the German Commercial Code/HGB)/Austrian GAAP etc. In some cases (well, AFAIK) it is even imperative to apply these with smaller businesses.


    Reference: http://www.proz.com/kudoz/german_to_english/accounting/18503...
Sebastian Witte
Germany
Local time: 12:58
Works in field
Native speaker of: Native in GermanGerman
PRO pts in category: 16
Grading comment
Excellent, thanks!

Peer comments on this answer (and responses from the answerer)
agree  Steffen Walter
1 hr
  -> THX
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