When talking about financial statements, members of the industry generally refer to the balance sheets and annual accounts of companies.
In particular, these are the reports used by organizations to publicize their economic and financial situation, as well as the changes they have undergone in a specific period of time.
The information provided serves several functions, as it is of important use to the administration of the company, as well as to managers, regulators and other types of interested parties, such as shareholders, owners or creditors.
Why the translation of accounting documents is so important
These reports are drawn up on the basis of accounting principles and specific financial information. The same, in general, is usually disseminated according to a specific format, which does not lack the financial situation of the entity at the date of the accounts, a summary of the causes of the result attributable to time, the evolution of said capital during said period, as well as the evolution of the financial situation of that organization in that period of time.
At the same time, financial statements are very useful for users. The reason? Which contain data which, integrated with other information, can diagnose the policies to follow, considering new movements, strategies and trends in the market in which it operates.
This is why translating these reports is important for companies, because by knowing and managing information about the state of organizations in a certain native language, decisions are made in a more solid and reasoned way, which facilitates the path to the success of the company.
Within this type of documents, however, the translator’s work requires the presentation of the guarantees associated with this type of documents. Therefore, the final translation must be understandable and relevant, systematized in a coherent, reliable, comparable and relevant way.
To have this set of characteristics, companies must look for a final translation that is performed by individual professionals or translation agencies that have collaborators and members capable of carrying out projects that develop these characteristics. There are therefore more and more companies that let themselves be guided by the work of these agencies, which provide them with numerous advantages, which they verify in the short and long term.
How financial statement translation works
The translation of company and bank financial statements must respect the original version of the document in all its aspects such as formatting, content, specialized vocabulary, any notes and headings, of which the page layout must also be preserved.
At LingoYou we optimize and reduce layout costs, always keeping an eye on the final quality of the translation. We are detail specialists: when translating the financial statements we ensure that even the abbreviations are faithfully rendered, such as those that refer to the national registers or the taxes to be paid, by collecting them, ordering them or marking them with strokes and numbers at the foot of the page.
LingoYou, true professionals in the translation of economic documents
The translation of the consolidated financial statements must be carried out by linguists who are experts in the economic sector, in order to use the most suitable terminology.
LingoYou surrounds itself with a network of professionals who are experts in the economic sector. Our greatest strength lies in the careful selection of our collaborators who, to work alongside us, must demonstrate that they have gained at least 5 years of experience in the translation sector for which they propose themselves.
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