(Originally published on 28 February 2017.)
As the financial year comes to an end many companies are thinking about the preparation of their annual reports. As well as writing these reports, if your company operates in several countries you may have to get these reports translated. But what does annual report translation involve?
What makes annual report translation unique?
Annual reports use a specific language and tone and the layout often varies from country to country. An experienced translator will take this into account. They will carry out any necessary research to make sure the report does not read like a translation. This is why human translators are better than machine translations such as Google Translate for this type of work.
Freelance translator versus translation agency
If you need the report translated into several languages you might prefer working with a translation agency since they will organise the project. If you only need the report in one or two more languages, working with individual translators might prove more efficient and cost-effective. Working with a translator means that you can speak to them directly to resolve any queries without involving a third party. An individual translator will be able to give you a realistic deadline for the translation. Some agencies split larger projects between translators to get them done faster. However, this may result in the use of varying terminology.
Annual reports often start with the Chairman’s Report. This is a letter which outlines the major events that have taken place within the company in the past year. The Auditor’s Report outlines the corporate governance of a company. This is typically followed by the Financial Statements which comprise the Balance Sheet, Income Statement and Cash Flow Statement. The balance sheet lists the company’s total assets and liabilities at a particular date. The income statement lists a company’s profits or losses during the financial period, while the cash flow statement lists the company’s inflows and outflows of cash and “cash equivalents” during the financial period.[i]
Important terms in annual report translation
Le rapport annuel
Le rapport du commaissaire aux comptes
Le tableau de financement
Le rapport du président
Le rapport de entreprise
Les états financiers
Le compte de résultat
Cash flow statement
El informe anual
El informe de auditoría
El balance de situación
El estado de flujo de caja
El informe del presidente del consejo de administración
El informe de empresa
Los estados financieros
La cuenta de pérdidas y ganancias
Alcaraz, A. and Hughes, B. (2008). Diccionario de Términos Financieros y Comerciales. Barcelona: Ariel Economía
French Finance Dictionary. (200). Edinburgh: Chambers Harrap Publishers Ltd
Oxford Dictionary Of Accounting. (2016). Oxford: Oxford University Press
[i] All definitions taken from Oxford Dictionary Of Accounting.