Financial translations are an integral part of any international business process. The existence and prosperity of a company is impossible without developing financial relations. Nowadays, in the era of globalization there is a constant necessity to cooperate with international partners from various countries. Working with international partners as well as any other type of cooperation is closely related to the preparation of financial and financial documents. High-quality translation of financial texts is of the essence. It enables foreign companies to appraise the professionalism of a company's management and the level of reliability for cooperation, accordingly. The particular character of the information dealt with in banking documents, accountancy reports as well as other financial documents places additional liability on the translator. It goes without saying that financial translation involves knowledge of the subject, fluency in financial terminology and a specific presentation style as well as the ability to render the content of the document precisely.
In addition to the basics of financial theory and management, a high-quality financial translation requires specific knowledge of financial reports of different countries, bearing in mind that the old standards are continuously being replaced with new regulations. This is the reason why a translator who works with financial texts must know the principles of structuring official financial documents in the original country as well as in the country where the translation is to be used. He/she also needs to be accurate and pay close attention to the smallest details, have excellent language skills and a good comprehension of terminology.
Considering what is mentioned above, economists and linguists that perform financial translations continuously study the specific terminology and standards of the sphere in order to improve their proficiency. This also helps to consolidate financial translations and provide top-level adequacy. Financial translation involves working with such documents as various agreements and contracts, marketing researches and presentations, financial substantiations and business plans, insurance documents and agreements on funding of projects, auditors' reports and statements, financial reports, accountancy balances, profit and loss statements as well as other documents used in international financial activity.
In order to ensure the adequacy and precision of financial translations, linguists have to work constantly on their language skills and also explore specific financial terminology and standards. Bearing this all in mind, we have special requirements for our translators: a good knowledge of economics, finance, business ethics as well as an ability to represent the company appropriately in events that require the presence of translators (business negotiations, exhibitions, presentations, conferences). In order for us to ensure precision and guarantee the credibility of the translated documents, Vivid Translation cooperates with native speakers of the target languages.
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