Translating financial documents: Annual reports, balance sheets and financial statements
The translation of business and financial reports is an organisational challenge. A precise schedule, consistent terminology and professional language technology are all essential to the process for professional financial translations.
Company secrets need to be protected and, at the same time, clearly communicated to the relevant colleagues, partners and investors in a way that everyone understands. Business documents covering financial topics such as reports, profit and loss statements, balance sheets, cash flow statements and financial statements can be especially difficult to convey in a foreign language. In spite of this, your financial and business reports need to be accessible and understandable for all parties involved, which makes a translation indispensable.
Communicating in your colleagues and partners’ native languages is also a sign of respect, professionalism and high esteem. Furthermore, having your financial documents translated will play a significant role in your international success. The more international the shareholder structure or stakeholders of your company, the more important it is to have your financial reports professionally translated.
Optimal processes for the translation of financial reports
It's not unusual for an annual report, balance sheet or annual financial statement to be completed at the last minute. How much time does this leave for a professional translation? Obviously, all of the languages must be as accurate as the original, so this part of the project needs to be planned.
- Planning and briefing
A planning and briefing session with intercontact should ideally take place in the autumn of the previous year and be based on an analysis of your last financial report. intercontact will use its existing terminology as a basis for the new report as it’s essential to use consistent terms.
- Rough translation
Since a large portion of your document will be written before the final annual figures are in, it makes sense to have that text translated in advance, with the help of our translation memories. This is particularly advisable for extensive financial statements. This way, everyone involved can work together in a more relaxed frame of mind, as approx. 75-80% of your report will already be finished.
The remaining translation (20-30%) is the part that requires the most attention. Depending on the volume of text, we can deliver this section in a short amount of time.
- Proofreading & last minute changes
At the proofreading stage, allow for at least two rounds of revisions for the correction PDF file or for it to go through your editing system at least twice. The schedule should also accommodate last-minute changes made by board members.
- Ready for printing
Once all of the corrections and changes have been carried out in each language, the documents can be approved for printing.
Your financial reports are in good hands
The intercontact translation agency team consists of experienced project managers, language managers and native-speaking linguists who are happy to translate your annual business and financial reports for you.
Our team takes commercial and company law, the written form and the general legal situation into account when translating your balance sheets, annual reports and financial documents. Talk to us. We’ll be happy to advise you and help you plan the translation of your next annual report into all of your company’s languages.