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Process of divulging accounting information so that the content of FINANCIAL STATEMENTS is understood. ANNUITY whose contract provides that payments to the annuitant be postponed until a number of periods have elapsed. The postponement of the date that an expense already paid or incurred, or of a REVENUE law firm bookkeeping already received, is entered in the LEDGER. Default triggers a CREDITOR’S rights and remedies identified in the agreement and under the law. General name for money, notes, BONDS, goods or services which represent amounts owed. Individual or firm acting as a principal in a securities transaction.

State tax which is imposed on a state-chartered CORPORATION for the right to do business under its corporate name. A corporation which is not organized under the laws of ones territories or states. Taxing of foreign corporations depends on whether the corporation has Nexus or effectively connected income in that state. An INCOME STATEMENT that projects the NET INCOME of a business for a future period.

Profit

A measurement of a company’s PROFITABILITY or overall earning power, that is, how efficiently a company uses its assets to produce INCOME. Fund established to account for assets whose income must be used for purposes established by donors or grantors of such ASSETS. Agreement whereby an institution purchases SECURITIES under a stipulation that the seller will repurchase the securities within a certain time period at a certain price. An entity that holds a fixed pool of mortgages and issues multiple classes of interests in itself to investors.

An organizational environment in which all business functions work together to build quality into the firm’s products or services. The U.S. Tax Court is a legislative court functioning to adjudicate controversies between taxpayers and the IRS arising out of deficiencies assessed by https://investrecords.com/the-importance-of-accurate-bookkeeping-for-law-firms-a-comprehensive-guide/ the IRS for INCOME, GIFT, ESTATE, windfall profit and certain EXCISE TAXES. Increase in the number of shares of a company’s COMMON STOCK outstanding that result from the issuance of additional shares proportionally to existing stockholders without additional capital investment.

Margin of Profit

In its fiscal second-quarter ending Nov. 30, 2020, Nike Inc. reported a 9% increase in revenues, adding that sales rose 7% on a constant currency basis. There are two main accounting standards for handling currency translation. Certified public accountants and management accountants are two of the profession’s most common specializations. Auditors and forensic accountants are another important branch of the field. Debits are accounting entries that function to increase assets or decrease liabilities.

However, translating your accounting documents effectively enhances your reputation as a major international player. We are proud to rank 2nd among the best translation services companies on the GoodFirms platform. With high-skilled translators and specialized linguists, our accounting translation services aim to deliver the highest quality outcome. Translate all expense and revenue allocations using the exchange rates in effect when those allocations are recorded. Examples of allocations are depreciation and the amortization of deferred revenues.

Stockholder

Report to the stockholders of a company which includes the company’s annual, audited BALANCE SHEET and related statements of earnings, stockholders’ or owners’ equity and cash flows, as well as other financial and business information. Accounting has become a vital part of the world’s economy due to the spur of product and service exchange traded among countries. To be transcended boundaries, the accounting sectors need secure and accurate accounting translation services to make your business reach globally.

• Highest price or rate of return an alternative course of action would provide.
• In general, agreement by which rights or acts are exchanged for lawful consideration.
• Wages, salaries, professional fees, and other amounts received as compensation for services rendered.
• If there are intra-entity profits to be eliminated as part of the consolidation, apply the exchange rate in effect on the dates when the underlying transactions took place.
• A refundable tax credit for eligible low income workers, subject to computations based on qualifying children and phase in and phase out income levels.
• LLC structures allow business owners to separate their personal finances from the company’s finances.

A shift to a different functional currency should be used only when there is a significant change in the economic facts and circumstances. For transparency purposes, companies with overseas ventures are, when applicable, required to report their accounting figures in one currency. When retained earnings (RE) are positive, they increase the organization’s equity. That equity may then be reinvested back into the business to fuel its future growth. We also explain relevant etymologies or histories of some words and include resources further exploring accounting terminology.

Our accounting software translation services include in-context UI string localization, online help translation, as well as linguistic and functional testing. To learn more about Stepes expert software L10N experience, please click here. Diversification describes a risk-management strategy that avoids overexposure to a specific industry or asset class. To achieve diversification, people and organizations spread their capital out across multiple types of financial holdings and economic areas.

• They are also native speakers of your target language, accounting for all cultural nuances and financial regulations within your target market.
• Legal process, governed by federal statute, whereby the DEBTS of an insolvent person are liquidated after being satisfied to the greatest extent possible by the DEBTOR’S ASSETS.
• General name for money, notes, BONDS, goods or services which represent amounts owed.
• Rate of return that a business could earn if it chose another investment with equivalent risk.
• (2) May cause the loss of tax deductions under Section 162 (m), the deduction that public companies take for compensation to chief executive officer and next four highest compensated officers is limited to $1 million each.

Translation exposure can often depict a distorted representation of a company’s international holdings if foreign currencies depreciate considerably compared to the home currency. The converter also allows general users to get monthly currency conversion rates, from the current month back to 1994. We serve the public interest through advocacy, development, and support for our member organizations & the millions of professional accountants around the world who are crucial to our global economy. On 26 June 2023 the ISSB issued its inaugural standards—IFRS S1 and IFRS S2—ushering in a new era of sustainability-related disclosures in capital markets worldwide.

English to French Accounting Translation Glossary

They are taxed on all of their INCOME worldwide in the same manner a citizen of the United States is. RETURN required by investors before they will commit money to an INVESTMENT at a given level of risk. EXPENDITURES for making good or whole the portions of property that have deteriorated through use or have been destroyed through accident. Process by which an insurance company obtains insurance on its insurance claims with other insurers in order to spread the risk. Agency responsible for keeping track of the owners of bonds and the issuance of stock.

• As a professional Accounting translation company, GTE Localize provides three Accounting translation plans, allowing you to always meet your cost targets or demands.
• Examples include rent, marketing and advertising costs, insurance, and administrative costs.
• Method that determines the discount rate at which the present value of the future CASH FLOWS will exactly equal investment outlay.
• Organized, national EXCHANGES where securities, options, and futures contracts are traded by members for their own accounts and for the accounts of customers.
• An overall operating philosophy of INVENTORY management in which all resources, including materials, personnel, and facilities, are used only as needed.