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offene Absetzung

English translation: deduction on the face of the balance sheet

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:offene Absetzung
English translation:deduction on the face of the balance sheet
Entered by: Chris Rowson (X)

08:35 Jul 18, 2006
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: offene Absetzung
I have the following in the Geschäftsbericht of a German group.

“Durch Beschluss der Hauptversammlung vom 15. Juli 2004, wurde die Gesellschaft ermächtigt, bis zum 15. Januar 2006 eigene Aktien bis zu 10% des Grundkapitals in Höhe von € X zu erwerben.

Nach offener Absetzung der eigenen Aktien stellt sich das Grundkapital wie folgt dar:”
Chris Rowson (X)
Local time: 20:33
deduction on the face of the balance sheet
Explanation:
"etw. offen absetzen" means to "deduct sth. on the face of" (normally the balance sheet, rarely the income statement).

Here's a passage from "Deutsches Bilanzrecht/German Accounting Legislation", 4th ed. 2006 (p. 14):

"Ausstehende Einlagen auf das gezeichnete Kapital sind grundsätzlich aktivisch vor dem Anlagevermögen auszuweisen und als solche zu bezeichnen (§ 272 Abs. 1 Satz 2 HGB). Soweit ausstehende Einlagen noch nicht eingefordert sind, sind die Beträge entweder durch einen sogenannten „davon“-Vermerk kenntlich zu machen oder passivisch von dem Posten „Gezeichnetes Kapital“ offen abzusetzen (§ 272 Abs. 1 Satz 2 und 3 HGB)."

"Outstanding contributions to subscribed capital must generally be presented separately on the assets side of the balance sheet above fixed assets and designated appropriately (HGB s. 272[1] sent. 2). If unpaid contributions have not yet been called, the amounts must either be denoted by an “of which” note beneath the heading or deducted from “subscribed capital” on the face of the balance sheet (HGB s. 272[1] sents. 2 and 3)."

In your case, the treasury shares have been deducted from the share capital (i.e. reported subscribed capital).
Selected response from:

RobinB
United States
Local time: 13:33
Grading comment
Thanks very much!
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Summary of answers provided
4deduction on the face of the balance sheet
RobinB


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
deduction on the face of the balance sheet


Explanation:
"etw. offen absetzen" means to "deduct sth. on the face of" (normally the balance sheet, rarely the income statement).

Here's a passage from "Deutsches Bilanzrecht/German Accounting Legislation", 4th ed. 2006 (p. 14):

"Ausstehende Einlagen auf das gezeichnete Kapital sind grundsätzlich aktivisch vor dem Anlagevermögen auszuweisen und als solche zu bezeichnen (§ 272 Abs. 1 Satz 2 HGB). Soweit ausstehende Einlagen noch nicht eingefordert sind, sind die Beträge entweder durch einen sogenannten „davon“-Vermerk kenntlich zu machen oder passivisch von dem Posten „Gezeichnetes Kapital“ offen abzusetzen (§ 272 Abs. 1 Satz 2 und 3 HGB)."

"Outstanding contributions to subscribed capital must generally be presented separately on the assets side of the balance sheet above fixed assets and designated appropriately (HGB s. 272[1] sent. 2). If unpaid contributions have not yet been called, the amounts must either be denoted by an “of which” note beneath the heading or deducted from “subscribed capital” on the face of the balance sheet (HGB s. 272[1] sents. 2 and 3)."

In your case, the treasury shares have been deducted from the share capital (i.e. reported subscribed capital).

RobinB
United States
Local time: 13:33
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 993
Grading comment
Thanks very much!
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