Diferencias Temporales o Temporarias

English translation: Temporary or Timing Differences

15:02 May 26, 2007

Spanish to English translations [PRO]
Bus/Financial - Accounting / accounting

Spanish term or phrase: Diferencias Temporales o Temporarias

Sociedades con histórico de pérdidas: La existencia de pérdidas fiscales no utilizadas puede ser una evidencia para suponer que, en el futuro, no se dispondrá de ganancias fiscales. Por tanto, no se realizará la activación de créditos fiscales, salvo que:

Se disponga de cantidad suficiente de Diferencias Temporales o Temporarias de pasivo, relacionadas con la misma autoridad fiscal y referidas a la misma entidad fiscal, que puedan dar lugar a importes imponibles, en cantidad suficiente como para cargar contra ellos los créditos fiscales no utilizados, antes de que el derecho de utilización de los mismos expire.

Mikolaj Rasmussen KudoZ activity Questions: 135 (4 open) (9 without valid answers) (1 closed without grading) Answers: 6 Denmark
Local time: 00:51

English translation:Temporary or Timing Differences

Explanation:
site: www.iasplus.com "temporary differences"

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Note added at 9 mins (2007-05-26 15:12:24 GMT)
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http://www.google.it/search?q=site: www.iasplus.com "tempora...

Selected response from:

DCypher (X)
Local time: 00:51

Grading comment

thanks
4 KudoZ points were awarded for this answer

Summary of answers provided

5 +5

Temporary or Timing Differences

DCypher (X)

Temporary differences

Richard Cadena

TEMPORARY DIFFERENCES OR TEMPORARIES

trans4u

Answers

8 mins confidence:

peer agreement (net): +5

Temporary or Timing Differences

DCypher (X)
Local time: 00:51
Specializes in field
Native speaker of:

English
PRO pts in category: 20

Grading comment

thanks

15 mins confidence:

TEMPORARY DIFFERENCES OR TEMPORARIES

Explanation:
TEMPORRY DIFFERENCE- The historical cost of an asset or liability may not be the same as its tax base. Such a situation creates a temporary difference. ttp://www.vernimmen.com/html/glossaire/definition_temporary_diffe...

trans4u
Local time: 16:51
Native speaker of:

Spanish
PRO pts in category: 5

2 hrs confidence:

Temporary differences

Explanation:
A temporary difference is a difference between the tax basis of an asset or liability and its reported amount in the financial statements that will result in taxable or deductible amounts in future years when the reported amount of the assets or liabiilty is recovered or settled, respectively (see paragraph 289 of FASB Statement No. 109).

Reference for the above:
AICPA Audit and Accounting Guide
DEPOSITORY AND LEINDING INSTITUTIONS: BANKS AND SAVINGS INSTITUTIONS, CREDIT UNIONS, FINANCE COMPANIES AND MORTGAGE COMPANIES
With Conforming Changes as of May 1, 2006
Published by the AICPA

Hope this helps.
In my 19th year of translating from Spanish to English for Mexico City based accounting firms and financial entities in general.

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Note added at 2 hrs (2007-05-26 17:54:28 GMT)
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"pérdidas fiscales no utilizadas" actually look like "unutilized tax loss carryforwards" that are not realized and offset against future taxable income and, therefore, there is a risk that the "carryforward period" may expire. Hope this helps clarify the situation.

Reference: http://aicpa.org
Reference: http://imcp.org.mx

Richard Cadena
Mexico
Local time: 16:51
Specializes in field
Native speaker of:

English
PRO pts in category: 726

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