Translation glossary: Accounting - Tax - Finance

Deferred Tax Assets 
A deferred tax asset is recognized for temporary differences that will result in deductible amounts in future years and for carryforwards. For example, a temporary difference is created between the reported amount and the tax basis of a liability for estimated expenses if, for tax purposes, those estimated expenses are not deductible until a future year. Settlement of that liability will result in tax deductions in future years, and a deferred tax asset is recognized in the current year for the reduction in taxes payable in future years. A valuation allowance is recognized if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax asset will not be realized. 
Deferred Tax Liabilities 
A deferred tax liability is recognized for temporary differences that will result in taxable amounts in future years. For example, a temporary difference is created between the reported amount and the tax basis of an installment sale receivable if, for tax purposes, some or all of the gain on the installment sale will be included in the determination of taxable income in future years. Because amounts received upon recovery of that receivable will be taxable, a deferred tax liability is recognized in the current year for the related taxes payable in future years. 
My comment on the above extracts taken from summaries of FASBs found on the Rutgers University Accounting Website (RAW): All of the foregoing involves various taxes including income tax. When income tax is at issue, the terms would be as follows:
a) Deferred Income Tax Assets
b) Deferred Income Tax Liability
Also take note that all of this takes place in circumstances involving temporary differences.

Instituciòn de banca múltiple

Full-Service Bank

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Insuficiencia en la actualización del capital contable

Insufficiency in the restatement of stockholders' equity

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intereses a pagar

Interest payable

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intereses intercalarios

Interest on capital during construction

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intereses por mora

default interest, interest on arrears

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Inversiones de realización inmediata

Marketable securities

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ISR fedatarios publicos y retenciones. Enajenacion de bienes

Income Tax notaries public and withholdings. Asset disposal

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IVA acreditable

Creditable VAT / Recoverable VAT

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líquidos productos

monthly net proceeds

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Lista de inventarios valuados

Valued inventory list

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llevar/cargar a resultados

to charge to income / to expense

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These two expressions are commonly used in accounting. In this case, the resulting differences are charged to income. 
Also, note in the other expression how the word "expense" is used as a verb, meaning "cargar a resultados (ingresos)". I personally had never seen the word "expense" used as a verb until I came into contact with the world of accounting.
Examples:
Depreciation is charged to income
Depreciation is expensed

Severance payments are charged to income as paid.
Severance payments are expensed as paid.

I suggest avoiding the use of the term "results", since it indicates neither earnings/income/gains or losses, and that has to be clear in English

To emphasize not using the term "results" in cases such as this, the following terms are used as examples:

resultados integrales - comprehensive income (loss)
resultados cambiarios - exchange gains (losses)
resultado por fusión - gain (loss) on merger
resultados por inflación - gain (loss) on inflation
resultados por tenencia de activos monetarios - 
gain (loss) on holding monetary assets
resultados por coberturas - hedging gains or losses

The only time when I have seen the use of results in English is in the last paragraph of an auditor's opinion (dictamen del auditor) in the phrase "results of its operations".

los resultados acumulados al inicio por diferencia patrimonial

retained earnings at beginning (of year) due to difference in shareholders' equity

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los resultados financieros devengados hasta el cierre del ejercicio

financial performance up to fiscal year end / financial income or loss up to fiscal year end

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Los saldos de Deudores, Acreedores, contraídos

Foreign currency debit and credit balances

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Mancha urbana / Cabecera municipal

Urban sprawl / Municipal seat

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Mejoras a locales arrendados

Leasehold improvements

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Miscelánea Fiscal

Annual or periodic amendments enacted to the tax law

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Movimiento de Caja

Cash Flow

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movimiento de patrimonio

changes in equity

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Movimiento del efectivo proveniente (usado) de las actividades de inversión

Cash flow provided by (used in) investing activities

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No obstante lo anterior

Notwithstanding the foregoing

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obligación de hacer

affirmative covenant

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Obligaciones de hacer

Affirmative covenants

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Obligado solidario

Joint and several obligor

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obtención de confirmaciones de asesores legales sobre litigios....

obtain / obtaining confirmations of litigations from legal advisors

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Oficialia de partes

Filing desk

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operación no vinculada o controlada

arm's length transaction

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Operaciones con o entre partes relacionadas

Related party transactions

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Mexican Spanish uses the term "partes relacionadas". This usually refers to a situation relating to a group of companies where there is a parent or holding company and the pertinent subsidiary or affiliated companies. These companies transact all kinds of business with each other such as buying and selling merchandise or products. In another example, one company can sell raw materials and the other can manufacture goods with those raw materials. Often, the parent or holding company lends money to its subsidiaries, and interest has to be paid on them.
Since these companies are connected, there is a temptation to do all of the above things at prices lower than market prices, in the intent to gain some kind of business advantage.
In recent years, the issue of transfer pricing has arisen where accounting firms perform transfer pricing studies to provide assurance that related party transactions are carried out at prices or considerations that would have been used by independent or non-related parties in what are known as arm's length transactions.
Black's Law dictionary defines "arm's-length" as follows:
Of or relating to dealings between two parties who are not related or not on close terms and who are presumed to have roughtly equal bargaining power; not involving a confidential relationship .
Transfer pricing studies are usually required by law, namely, the income tax law. If a company does not have its transfer pricing study readily available, it can have possible problems with the tax authorities where the company resides. These transactions involve both domestic and international companies.

Pago por cuenta de clientes

Payment for account of clients

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Papel de trabajo

Working paper

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parte activa vs parte pasiva

lending part vs. borrowing part

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parte fija

fixed capital stock

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Participación de los empleados en las utilidades (PTU)

Employee profit sharing

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Participación social

Equity interest (in a corporation or partnership)

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Participaciones de los trabajadores

Employee profit sharing

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Partida contable

Accounting item

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partidas correctoras

adjusting entries / adjusting journal entries

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Pasivo circulante

Current liability

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pasivos vinculados

related party liabilities

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Párrafo de énfasis

Emphasis paragraph

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The followng excerpt is transcribed verbatim from the "Accounting Trends & Techniques" published annually by the AICPA.
EMPHASIS OF A MATTER
Paragraph 19 of SAS No. 58, as amended by SAS No. 79, states:
19. In any report on financial statements, the auditor may emphasize a matter regarding the financial statements. Such explanatory information should be presented in a separate paragraph of the Auditors' Report (Dictamen del Auditor). Phrases such as "with the foregoing (following) explanation" should not be used in the opinion paragraph if an "emphasis paragraph" is included in the auditors' report. "Emphasis paragraphs" are never required; they may be added solely at the auditors' discretion. Examples of matters the auditor may wish to emphasize are---
- That the entity is a component of a larger business enterprise.
- That the entity has had significant related party transactions.
- Unusually important subsequent events.
- Accounting matters, other than those involving a change or changes in accounting principles, affecting the comparability of the financial statements with those of the preceding period.

pérdida por diferencia de cambio

loss on foreign currency translation

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Pérdidas de ejercicios anteriores pendientes de compensación

Prior year tax loss carryforwards

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En el español de México, se conoce este término como "pérdidas fiscales por amortizar de años/ejercicios anteriores", o bien "pérdidas fiscales pendientes de amortización de años/ejercicios anteriores".

En sí, se trata de lo siguiente: cuando una compañía sufre una pérdida fiscal en un ejercicio anterior, se podrá utilizar un porcentaje de la misma para la disminución o compensación contra ingresos fiscales generados en futuros ejercicios durante el periodo o plazo de amortización.

En México, el plazo de amortización tiene una duración máxima de diez años. En otras palabras, se permite manejar el 10% al año durante los siguientes diez años para efectos de disminuir los ingresos fiscales. Si una empresa sufre pérdidas fiscales en los ejercicios de 2002, 2003 y 2004, tiene derecho a la utilización de dichas pérdidas para amortizar, es decir, para disminuir o reducir un porcentaje de dicha pérdida (10% anual en México) durante el plazo de amortización, por lo que el plazo correspondiente al ejercicio de 2002 se extinguirá en el 2012, la del 2003 en el 2013 y la del 2004 en el 2014. Esta es la esencia de esta situación. A partir del ejercicio de 2005, la compañía comienza a generar utilidades y, por ende, causa impuesto.

A continuacion, se presenta una definición en inglés de "tax loss carryforward":

When a company suffers a tax loss in a fiscal year, a certain percentage of that loss may be used to reduce or offset taxable income in future years over the carryforward period.

La palabra "carryforward" da a entender que es para uso en el futuro. No existe una palabra en español que encierra este concepto en una sola palabra. En sí, es la fusión de carry (llevar)+ forward (hacia adelante).

Ojo con lo siguiente:
Las palabras "prior" y "previous" son sinónomas en el inglés, pero en el medio de la contabilidad en los EEUU, se suele usar "prior" en la gran mayoría de las veces, tal como consta en la publicación anual "Accounting Trends & Techniques" del AICPA (American Institute of Public Accountants). Se habla de:
Prior year gains
Prior year losses
Prior year earnings
En materia de la gramática del inglés, cabe señalar que en este caso, "carryforwards" es el sustantivo y las palabras "year", "tax" y "loss", aunque en su orígen son sustantivos, están fungiendo en este caso como adjetivos por su ubicación antes del sustantivo en cuestión, a saber, "carryforward". "Prior" es la única palabra cuya esencia original es de adjetivo.
Se maneja el término "year" como adjetivo descriptivo, no posesivo con el respectivo apóstrofe, pues en este caso, no hay nada que indique posesión o propiedad. Su función es descriptiva.

Pérdidas fiscales pendientes de disminuir

Tax loss carryforwards

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