Jul 20, 2019 13:26
4 yrs ago
13 viewers *
German term
Devisengeldkurs
German to English
Bus/Financial
Accounting
foreign currency receivables/liabilities
I am translating the notes financial statements. I have one statement: "Fremdwährungsforderungen werden zum Devisenbriefkurs ... angesetzt."
Follwed by the sentence: "Fremdwährungsverbindlichkeiten werden zum Devisengeldkurs bei Entstehung der Verbindlichkeit oder zum höheren beizulegenden Wert, unter Zugrundelegung des Devisenkassamittelkurses am Abschlussstichtag, angesetzt"
Are "Devisenbriefkurs" and the "Devisengeldkurs" more or less the same, and can I translate both with "foreign exchange offered rate" or do I need to make a distinciton?
Follwed by the sentence: "Fremdwährungsverbindlichkeiten werden zum Devisengeldkurs bei Entstehung der Verbindlichkeit oder zum höheren beizulegenden Wert, unter Zugrundelegung des Devisenkassamittelkurses am Abschlussstichtag, angesetzt"
Are "Devisenbriefkurs" and the "Devisengeldkurs" more or less the same, and can I translate both with "foreign exchange offered rate" or do I need to make a distinciton?
Proposed translations
(English)
| 5 +2 | bid rate |
Ted Wozniak
|
| 3 | currency buy rate |
Adrian MM.
|
Proposed translations
+2
20 mins
Ted Wozniak
United States
United States
Native in English
Specializes in field
United States
Bridging the Language GAAP-
Native in: English (Variant: US) 
Works in: German to English
Related KudoZ points
:
762
Selected
bid rate
There is a difference. Geldkurs is the bid rate, while Briefkurs is the ask rate.
Receivables denominated in foreign currency are measured at the ask rate, while DC liabilities are measured using the bid rate.
Using these different rates results in a lower valuation for receivables (compared to the bid rate, while the liabilities will have a higher value. This is required under the principle of recognizing assets at the lowest reasonable value and liabilities at the highest reasonable value.
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Note added at 21 mins (2019-07-20 13:47:31 GMT)
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Oops - DC should be "FC" = liabilities denominated in foreign currency (FC)
Receivables denominated in foreign currency are measured at the ask rate, while DC liabilities are measured using the bid rate.
Using these different rates results in a lower valuation for receivables (compared to the bid rate, while the liabilities will have a higher value. This is required under the principle of recognizing assets at the lowest reasonable value and liabilities at the highest reasonable value.
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Note added at 21 mins (2019-07-20 13:47:31 GMT)
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Oops - DC should be "FC" = liabilities denominated in foreign currency (FC)
4 KudoZ points awarded for this answer.
Comment: "Thank you Ted and Robin, you've both helped me greatly with this."
1 day 21 hrs
Adrian MM.
Austria
Austria
Native in English
Specializes in field
Austria
Retd.T&I, Barrister & Austro-Advokat
Native in: English (Variants: British, Scottish) 
Works in: Spanish to English, English to Spanish, French to English, and 5 more.
Related KudoZ points
:
25
currency buy rate
Have just picked up on this question.
Zahn: DE/EN Bank und Börsenwesen dictionary and Robin B's edit.
cf. spot exchange rate and Devisenbriefkurs: currency sell rate.
Zahn: DE/EN Bank und Börsenwesen dictionary and Robin B's edit.
cf. spot exchange rate and Devisenbriefkurs: currency sell rate.
Reference:
http://www.linguee.de/englisch-deutsch/uebersetzung/spot+exchange+rate.html
http://www.travelexae.com/AE/Foreign-Currency/Rates/Online-Rates/Currency-Exchange-Rates-Explained/
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