.

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Note added at 25 mins (2011-02-20 11:08:19 GMT)
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For the purpose of computing earnings, or profit, expenses, i.e. normally interest, of the bonds will deducted. In other words this makes clear that these expenses are not treated as some form of return on equity but as a business expense, as if the bonds were a simple bank loan etc.

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Note added at 25 mins (2011-02-20 11:09:10 GMT)
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that's 'including'. Hope this is clear, if not say so and I will expand.

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Note added at 35 mins (2011-02-20 11:18:53 GMT)
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Here is a reference

Earnings Before Interest and Taxes. A measure of a company's earning power from ongoing operations, equal to earnings before deduction of interest payments and income taxes. EBIT excludes income and expenditure from unusual, non-recurring or discontinued activities. In the case of a company with minimal depreciation and amortization activities, EBIT is watched closely by creditors, since it represents the amount of cash that such a company will be able to use to pay off creditors. also called operating profit.

http://www.investorwords.com/1631/EBIT.html

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Note added at 1 hr (2011-02-20 11:56:26 GMT)
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Sherry, the original says 'incluyendo devengo de gastos' so deduction is implied. You can leave it out if your wording has the some implication or include it if you feel it may be ambiguous.

So.
EBIT significa beneficios antes de intereses e impuestos, incluyendo el devengo de gastos por bono

could be

EBIT means profit before interest and taxes, which include accrued bond expenses, ..... would I think remove the ambiguity and need to include 'deduction'.

Si mi explico.



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Note added at 1 hr (2011-02-20 12:02:36 GMT)
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SORRY that last note of mine is rubbish.
it should be
EBIT means profit before interest and taxes, including accrued bond expenses.....

To be honest there is ambiguity in the original so we might as well reflect it accurately in the translation which this would do. It seems that the original could mean that profit includes (or takes into account) accrued bond expenses, or that the latter are included in the concept of interest and taxes. This new wording adequately reflects this ambiguity. So I would LEAVE OUT deduction of and put it this way. Sunday morning and brain only half in gear here it seems.

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Note added at 1 hr (2011-02-20 12:05:19 GMT)
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I think my original answer is correct but the more I read it the more this element of ambiguity creeps in and we can resolve this by this new wording. Sorry to be so tedious.