Glossary entry (derived from question below)
German term or phrase:
befreiender Konzernabschluss
English translation:
exempting consolidated financial statement
Added to glossary by
Ted Wozniak
Aug 26, 2005 14:12
18 yrs ago
6 viewers *
German term
befreiender Konzernabschluss
German to English
Bus/Financial
Accounting
Annual statements
Text from a corporate merry-go-round of takeovers, changes of name etc. in the automotive supply industry. Sorry for the confusing sequence of placeholders for the company names.
I can't quite fathom why the consolidated financial statement of BBB should have the effect of exempting/freeing/discharging company AAA GmbH & Co. KG.
(From what obligation? The obligation of returning its own annual statement? Seems implausible, because guess what I am translating at the moment!).
Der Kreis der verbundenen Unternehmen der AAA GmbH umfasst das oberste Mutterunternehmen, die BBB (vormals: CCC), und sämtliche Tochterunternehmen dieses Mutterunternehmens. Ein für die AAA GmbH & Co. KG (vormals: DDD), ***befreiender Konzernabschluss*** nach § 291 i.V.m. § 264a HGB, in den der Jahresabschluss der Gesellschaft einbezogen wird, ist am Sitz dieser Gesellschaft erhältlich.
AAA GmbH and AAA GmbH & Co. KG are actually different incarnations of the same company (more or less, give or take a merger or two). The present annual statement is for the second incarnation, but a year previously the name given was the first one.
In fact, I suspect the auditor may be using the wrong form in the first sentence I have quoted. But that does not directly affect the answer to my question.
I can't quite fathom why the consolidated financial statement of BBB should have the effect of exempting/freeing/discharging company AAA GmbH & Co. KG.
(From what obligation? The obligation of returning its own annual statement? Seems implausible, because guess what I am translating at the moment!).
Der Kreis der verbundenen Unternehmen der AAA GmbH umfasst das oberste Mutterunternehmen, die BBB (vormals: CCC), und sämtliche Tochterunternehmen dieses Mutterunternehmens. Ein für die AAA GmbH & Co. KG (vormals: DDD), ***befreiender Konzernabschluss*** nach § 291 i.V.m. § 264a HGB, in den der Jahresabschluss der Gesellschaft einbezogen wird, ist am Sitz dieser Gesellschaft erhältlich.
AAA GmbH and AAA GmbH & Co. KG are actually different incarnations of the same company (more or less, give or take a merger or two). The present annual statement is for the second incarnation, but a year previously the name given was the first one.
In fact, I suspect the auditor may be using the wrong form in the first sentence I have quoted. But that does not directly affect the answer to my question.
Proposed translations
(English)
5 +3 | exempting consolidated financial statement | Ted Wozniak |
5 | s.u. | Monika Leit |
4 | The cfs for AAA . . ., which are exempt [from German commercial law provisions] pursuant to . . . | nvclarke (X) |
Proposed translations
+3
10 mins
Selected
exempting consolidated financial statement
Preparation of the "befreiende" consolidated financial statement "exempts" the subsidiaries from preparing separate financial statements, in this case, AAA GmbH & Co KG is exempted from preparing its own financials due to inclusion in the AAA GmbH
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Note added at 13 mins (2005-08-26 14:26:03 GMT)
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While they may have prepared them (after all, ot makes preparing the consolidated reports easier), they don't have to PUBLISH them. Doesn't mean they can't, just that they are not REQUIRED to prepare and publish them.
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Note added at 13 mins (2005-08-26 14:26:03 GMT)
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While they may have prepared them (after all, ot makes preparing the consolidated reports easier), they don't have to PUBLISH them. Doesn't mean they can't, just that they are not REQUIRED to prepare and publish them.
4 KudoZ points awarded for this answer.
Comment: "Thanks everyone"
12 mins
s.u.
That's completely right. Die GmbH & Co KG braucht keinen Konzernabschluss und Konzernlagebericht zu erstellen, wenn bereits ein Kabschluss und Klagebericht des Mutterunternehmens einschließlich Bestätigungsvermerk offen gelegt wird. (siehe HGB).
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Note added at 25 mins (2005-08-26 14:37:44 GMT)
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Generell: Ein Mutterunternehmen, das zugleich Tochterunternehmen eines Mutterunternehmens mit Sitz in EU ist, braucht keinen Kabschluss und Klagebericht aufzustellen.
However, I got a bit confused with all your companies. AAA is the mother. BBB is a daughter of AAA. Die GmbH & Co KG müsste die Muttergesellschaft von BBB sein; daher ist die BBB von der Pflicht der Aufstellung aufgrund des Abschlusses der GmbH & Co KG befreit. So müsste es sein.
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Note added at 25 mins (2005-08-26 14:37:44 GMT)
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Generell: Ein Mutterunternehmen, das zugleich Tochterunternehmen eines Mutterunternehmens mit Sitz in EU ist, braucht keinen Kabschluss und Klagebericht aufzustellen.
However, I got a bit confused with all your companies. AAA is the mother. BBB is a daughter of AAA. Die GmbH & Co KG müsste die Muttergesellschaft von BBB sein; daher ist die BBB von der Pflicht der Aufstellung aufgrund des Abschlusses der GmbH & Co KG befreit. So müsste es sein.
5 hrs
The cfs for AAA . . ., which are exempt [from German commercial law provisions] pursuant to . . .
See below for the links, since I don't think they came through completely in my peer comments . . .
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