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03:13 Jul 23, 2019 |
Spanish to English translations [PRO] Finance (general) / Ecuadorian net worth statement | |||||||
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| Selected response from: Charles Davis Spain Local time: 15:54 | ||||||
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Summary of answers provided | ||||
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3 +3 | after profit-sharing, taxes and reserves |
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after profit-sharing, taxes and reserves Explanation: This stands for "después de participaciones, impuestos y reservas". "Utilidad del ejercicio (después de participaciones, impuestos y reservas)" http://dspace.utpl.edu.ec/bitstream/123456789/16168/1/Muñoz_... (p. 106) I think "participaciones" here means profit-sharing: "¿Qué es la participación de utilidades en Ecuador? La participación de las utilidades por parte de los trabajadores es un derecho que consiste en recibir el 15% [de] las utilidades líquidas que se hayan generado en un ejercicio económico, como consecuencia de su colaboración en la gestión. [...] De acuerdo con el art. 97 del Código de Trabajo en el Ecuador el empleador o empresa debe reconocer, en beneficio de sus trabajadores, el quince por ciento (15%) de las utilidades líquidas." https://smsecuador.ec/participacion-de-utilidades/ "Impuestos" is obvious. "Reservas" means retained earnings: "Before dividends are paid, a corporation must appropriate 10 percent of its annual net profits to a legal reserve (restricted retained earnings) until such reserve reaches 50 percent of its capital. The balance of the legal reserve is not available for distribution to stockholders as cash dividends but may be capitalized, provided appropriate authorization is obtained." "Doing Business and Investing in Ecuador" (p. 95 (97)) https://www.pwc.ec/es/publicaciones/assets/pdf/doing-busines... For "utilidad", rather than "net worth" I think a better term would be "net earnings". |
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