Challenges in Translating Italian Financial Statements
This presentation will cover the key reports and accounting entries included in Articles 2424 (Contenuto dello stato patrimoniale) and 2425 (Contenuto del conto economico) of the Italian Civil Code with a focus on unique Italian entries and concepts. Guidelines will be summarized for avoiding false cognates, using specialized financial dictionaries with a proper amount of skepticism, finding financial translation resources on the Internet, and forming equivalents for entries that are unique to Italian accounting practices. Since Italy is a part of the European Union, reporting for large multinationals generally includes financial statements prepared in accordance with the Italian Civil Code, as well as those restated to comply with International Accounting Standards. These reports will also be covered. The Introduction to Accounting for Translators, offered as a plenary session, will serve as a useful prerequisite to this presentation.
Speaker: Bob Taylor