absetzen

English translation: deducted/accounted for

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:absetzen
English translation:deducted/accounted for
Entered by: Ted Wozniak

11:51 May 11, 2010
German to English translations [PRO]
Bus/Financial - Accounting
German term or phrase: absetzen
Da dieser Zahlungsmittelbestand jedoch in der Bilanzposition „Assets held for sale“ abgesetzt ist, reduziert sich der auszuweisende Bestand um 0,8 Mio. Euro ohne dass die Forderungen aus dem Verkauf in Höhe von 8,25 Mio. Euro bereits gezeigt werden können, da diese Transaktion erst zum 01. März 2010 erfolgte.

Not clear on what this means (here)... help would be appreciated!
Jeff Steffin
Local time: 10:34
deducted/accounted for
Explanation:
literally to deduct but I'd rephrase as follows to avoid clunky English.

Because these cash and cash equivalents (or just "funds" if you prefer) were already accounted for under (deducted from) (the balance sheet item) Assets held for sale, the reportable balance is reduced by EUR 0.8 million without being able to recognize the EUR 8.25 million in receivables from the disposal because this transaction did not occur until March 1, 2010. (Presumably after the reporting date in this case).

Without know the preceding text, I obviously can't know which wording would be best but my gut tells me "accounted for" should work fine and you can omit "balance sheet item" as Assets held for sale is, by definition, a balance sheet item.
Selected response from:

Ted Wozniak
United States
Local time: 12:34
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +3deducted/accounted for
Ted Wozniak
4to write off - to write down
Harry Gigas
3offset
Derek Ferrari-Frankland (X)


  

Answers


32 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
offset


Explanation:
has already been offset under "assets held for sale"

Derek Ferrari-Frankland (X)
United Kingdom
Native speaker of: English
PRO pts in category: 4
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
to write off - to write down


Explanation:
this appears to refer to a balance sheet asset that has been reduced in value, i.e. written down or written off.

Harry Gigas
Local time: 13:34
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
deducted/accounted for


Explanation:
literally to deduct but I'd rephrase as follows to avoid clunky English.

Because these cash and cash equivalents (or just "funds" if you prefer) were already accounted for under (deducted from) (the balance sheet item) Assets held for sale, the reportable balance is reduced by EUR 0.8 million without being able to recognize the EUR 8.25 million in receivables from the disposal because this transaction did not occur until March 1, 2010. (Presumably after the reporting date in this case).

Without know the preceding text, I obviously can't know which wording would be best but my gut tells me "accounted for" should work fine and you can omit "balance sheet item" as Assets held for sale is, by definition, a balance sheet item.

Ted Wozniak
United States
Local time: 12:34
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 762
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  philgoddard
6 hrs

agree  RobinB
6 hrs

agree  milinad
15 hrs
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