Björn Vrooman Jul 16, 2016:

One last thing Shall I add "10 days/shortly before or after the balance sheet date/year-end/end of the reporting period" for anyone who might look up this Kudoz question in the future?

I think you're right by saying "or," not "and" - it's always a tricky one, in either language.

Holly O'Reilly (asker) Jul 14, 2016:

Thanks again and I'll keep "balance sheet date" in mind for future translations! Frohes Schaffen.

Björn Vrooman Jul 14, 2016:

Of course, sorry did not want to indulge here.

Was a bit unsure at first, but every other source seems to be the same:
"Stichtagsinventur
Bestandsaufnahme für einen bestimmten Tag, wobei sie 10 Tage vor oder nach dem Bilanzstichtag vorgenommen werden darf."

bestimmten Tag = cutoff date
Bilanzstichtag = balance sheet date

In any case, thank you for the feedback! I know the feeling of being "locked out," pardon the pun, so I understand.

Have a great day!

Holly O'Reilly (asker) Jul 14, 2016:

I saw that you made that distinction. Wanted to keep my response short, but basically the customer has locked previously translated sections of the document and the translation "Stichtagsinventur=Cut-off date inventory count" is unfortunately among the locked ones!!

Björn Vrooman Jul 14, 2016:

Here's the quote:
"Die Inventur muss zeitnah, jedoch nicht genau am Bilanzstichtag stattfinden, es gibt eine Frist von 10 Tagen vor und nach dem Stichtag, an dem sie durchgeführt werden kann."
http://www.rechnungswesen-portal.de/Fachinfo/Grundlagen/Stic...

"Most businesses determine what to include in inventory at the end of the accounting period. The last day of the period is the inventory cutoff date. Establishing an inventory cutoff date is important when there are goods in transit between the business and its customers, or between the company and its suppliers. For example, a business ordered inventory on Dec. 28 and received it on Jan 3. If the inventory cutoff date is Dec. 30, the inventory in transit should be included in the company's financial statements."
http://smallbusiness.chron.com/included-inventory-25229.html

So if I understand that correctly, the cutoff date (meaning when you actually start your count, since everything is "cut off") can be ten days before or after the balance sheet date (the year-end, where it normally takes place).

So both can overlap, but they don't have to. What do you think?

Björn Vrooman Jul 14, 2016:

First off, thanks :)

However:
"shortly before or after the cut-off date"

- That's what I explained below. It's the balance sheet date. You can't start counting ten days after the cutoff date, that'll most likely get you into a lot of trouble :-/

Holly O'Reilly (asker) Jul 14, 2016:

Thanks everyone! Especially Björn :) Although I originally asked for a specific term, it now seems that there is no direct equivalent in English, so I opted for a rewording: "As well as the cut-off date inventory count, an inventory can be carried out shortly before or after the cut-off date."

Björn Vrooman Jul 13, 2016:

Another reference "The actual inventory shortage is determined upon reconciliation of the annual physical inventory, which occurs shortly before and after our year end, and an adjustment to cost of products sold is recorded at the end of the fourth quarter to recognize the difference between the estimated and actual inventory shortage for the full year."
http://www.wikinvest.com/stock/IParty_(IPT)/Inventory_Relate...

Björn Vrooman Jul 13, 2016:

Cutoff date "It is the date chosen to stop the flow of transactions, merchandise, cash, and so on for audit purposes. For example, in taking a physical inventory, there must be a cutoff date applicable to sales and purchases. This may require closing receiving and shipping rooms while the inventory count takes place."
https://www.allbusiness.com/barrons_dictionary/dictionary-cu...

As far as I understand it, you cannot make a physical inventory count around a cutoff date, since the cutoff date (when sales and purchases are "cut off") is the "Stichtag" (which may or may not be the "balance sheet date", see: http://wirtschaftslexikon.gabler.de/Definition/stichtagsinve... ; will slightly edit my other post below).

Agree with Phil, though, that it'd be good to know whether this term is used as part of a title or in body text.

Björn Vrooman Jul 13, 2016:

Plus https://books.google.de/books?id=FTFm7zjmrkgC&pg=PA227&lpg=P...

Björn Vrooman Jul 13, 2016:

@Holly I better post this here:

Stichtagsinventur = am Bilanzstichtag (balance sheet date)
https://www.wiwiweb.de/buchfuehrung/grundlagen/inventur/vere...
http://www.accountingtools.com/balance-sheet-date

At least, most of the time it is the same date.

What seems to be your "zeitnah":
"When inventory quantities are determined solely by means of a physical count, and all counts are made as of the balance-sheet date or as of a single date within a reasonable time before or after the balance-sheet date, it is ordinarily necessary for the independent auditor to be present at the time of count"
https://pcaobus.org/Standards/Auditing/Pages/AS2510.aspx

https://books.google.de/books?id=77Ic-TZdp_QC&pg=PA311&lpg=P...