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in laufender Rechnung

English translation: in the current period (Gewinn-und-Verlust-Rechnung)

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:in laufender Rechnung
English translation:in the current period (Gewinn-und-Verlust-Rechnung)
Entered by: Erzsébet Czopyk

13:12 Feb 26, 2022
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: in laufender Rechnung
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?
scottmw90
Local time: 10:05
in the current period (Gewinn-und-Verlust-Rechnung)
Explanation:
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.
Selected response from:

Erzsébet Czopyk
Hungary
Local time: 11:05
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2in the current period (Gewinn-und-Verlust-Rechnung)
Erzsébet Czopyk
3current account
Klaus Beyer
3on an ongoing basis
David Hollywood
2(tax) on a carry-forward basis; (otherwise) on an all-monies, carry-over basis
Adrian MM.
1in the running account / current accounting period /on a going concern basis
andres-larsen
Summary of reference entries provided
Steve Robbie

Discussion entries: 2





  

Answers


1 hr   confidence: Answerer confidence 1/5Answerer confidence 1/5
in the running account / current accounting period /on a going concern basis


Explanation:
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.

andres-larsen
Venezuela
Local time: 05:05
Native speaker of: Native in EnglishEnglish
PRO pts in category: 20

Peer comments on this answer (and responses from the answerer)
neutral  Andrew Bramhall: Possibly the middle one, not the other two;
16 hrs
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6 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
(tax) on a carry-forward basis; (otherwise) on an all-monies, carry-over basis


Explanation:
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(s):
  • — 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/...
    Reference: http://www.proz.com/kudoz/german-to-english/finance-general/...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 25
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6 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
current account


Explanation:
The annual result includes a now outside the period, taxable item having been reclassified for the current account in the amount of.....$$$

Klaus Beyer
United States
Local time: 04:05
Works in field
Native speaker of: English
PRO pts in category: 4
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12 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
on an ongoing basis


Explanation:
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

David Hollywood
Local time: 06:05
Works in field
Native speaker of: English
PRO pts in category: 113

Peer comments on this answer (and responses from the answerer)
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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2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
in the current period (Gewinn-und-Verlust-Rechnung)


Explanation:
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 ...


--------------------------------------------------
Note added at 20 óra (2022-02-27 09:44:09 GMT)
--------------------------------------------------

reporting period this is exactly what you need (but please, indicate in the parentheses (profit and loss statement) to be clear.

Erzsébet Czopyk
Hungary
Local time: 11:05
Native speaker of: Native in HungarianHungarian
PRO pts in category: 7
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
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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Reference comments


1 day 4 hrs
Reference

Reference information:
"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.

Steve Robbie
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
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