Wertberichtungsspiegel

14:18 Jul 6, 2010

This question was closed without grading. Reason: Other

German to English translations [PRO]
Bus/Financial - Accounting

German term or phrase: Wertberichtungsspiegel

This comes up in a company's accounting guidelines with reference to IFRS 7.16 (see below):
When financial assets are impaired by credit losses and the entity records the impairment in a separate account (eg an allowance account used to record individual impairments or a similar account used to record a collective
impairment of assets) rather than directly reducing the carrying amount of the asset, it shall disclose a reconciliation of changes in that account during the
period for each class of financial assets.

This has basically been translated back into German and then the following: "(ein so genannter „Wertberichtigungsspiegel“)" is added at the end. I cannot find a reliable source for this term in English. I am presuming something like "Reconciliation of changes in impairment", but am wondering if there is a fixed term?

Thanks for any suggestions.

HelenC KudoZ activity Questions: 5 (1 open) (2 closed without grading) Answers: 0 United Kingdom
Local time: 16:44

Summary of answers provided

Impairment statement

Ted Wozniak

(Overview of) fair value adjustments

Timothy Wood

Discussion entries: 3

Answers

17 mins confidence:

Impairment statement

Explanation:
No "fixed term" that I am aware of (but I'll gladly be corrected). I would probably base my translation of the title on the size and amount of detail provided. For a short table included in the notes, maybe "Breakdown of impairments" would do. For a separate and longer, detailed table, then "Impairments schedule" might be better.

Ted Wozniak
United States
Local time: 10:44
Meets criteria
Specializes in field
Native speaker of:

English
PRO pts in category: 762

Notes to answerer

Asker: Thanks, Ted and Timothy for your input. I think I will go with "statement of impairments", as reference is made several times in the guidelines I am translating to an actual "statement" that will apparently appear alongside the other financial statements. I am not certain, but somehow "schedule" sounds like more of a HGB term? My main concern was to not just translate it, if there was a fixed term. Thanks again!!

The asker has declined this answer

39 mins confidence:

(Overview of) fair value adjustments

Explanation:
I could not locate a fixed term. I'd suggest the above translation, although Ted's seems fine as well. The reference in the publication below may not help you directly, but the concept of "fair value" seems very common in IFRS 7 in general.

Reference: http://www.ey.com/Publication/vwLUAssets/Fair_Value_Hierarch...

Timothy Wood
United States
Local time: 09:44
Meets criteria
Specializes in field
Native speaker of:

English
PRO pts in category: 4
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