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Difficulties of interpreting and translating in the financial world

The world of finance is vast and endless. In fact, you need to know several terms regarding their true, exact meaning.

We are talking in particular about the various sectors, such as taxation or finance.
There is clearly no shortage of international terms, but very often their declination in practice requires some additional detail. Just think, for example, of the financial statements or the various tax documents of companies.

Financial world: if we have to analyze an international company, we must clearly have a total security as far as the fiscal documents and the balance sheet are concerned.

This is why a language service must be fast and correct as well as meet certain deadlines.

Basically, the main problem is terminology. This is due to the fact that with the evolution of the financial world, it sometimes happens that there are no precise terms that already exist. In fact, there are some terms that have not yet been translated and, therefore, we need to thoroughly understand what we are talking about.
Therefore, knowledge of the subject is a fundamental aspect in order to avoid translation problems.

Other small aspects related to translation need to be considered, such as measurement conventions.
In the USA and in the Anglo-Saxon world, in fact, the comma is used to separate thousands from hundreds. However, in Italy, in all documents and writings they use the comma.

There is also an important difference in documentation, as the simple US financial document has different repercussions and has a different type and structure within the Italian legislative and regulatory system.

This requires careful analysis and a very high level of expertise. These are the reasons why you need a proper interpreting and translation service, especially in the economic-financial field.

The diversity of terminologies, in the different financial legal systems, means that expertise must be at the highest level. In this way, every single word will have the correct translation and will be understood by millions of other people.

If you need an interpreting and translation service, please don’t hesitate to contact us!

On to the next article,

EPLS

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written by eleonora the 19 July, 2021


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