Introduction to Accounting for Translators (Basic Financial Statement Analysis)

• This short course will give translators an insight into the components of financial reporting (primarily the balance sheet and income statement), and will briefly cover types of financial statements that differ by type of company activity (e.g., leasing, retailing, manufacturing, banking, etc.). Cultural and legal aspects that have an impact on accounting will be discussed. In addition, the pitfalls of translating financial statements will be covered, including: awareness of false cognates, the determination of English equivalents for entries based on their location in financial statements, and attempts to find established American financial terminology for foreign accounting concepts that do not exist in the USA. Finally, the uses of financial information will be summarized. This presentation will serve as background for language-specific accounting presentations given later on at this conference.

• Speaker: Bob Taylor