 Hi, everyone. So today I'm gonna get a bit more technical and I wanted to talk more specifically about financial Translations and I wanted to do this for several reasons First of all, well first of all is how I kind of started and how I came up It was I was special I worked in finance originally and then I got into translation So I specialize in financial translations also, it's one of the specializations now that I offer as you know with my agency basically we offer financial Translations and so it's a lot of what I've been doing I also noticed it's a lot of we what you've been doing a lot of people that I talked to specializing financial Translations or business or accounting or something like that But you know, they'll they offer financial translations or they say they offer financial translations so anyway, I wanted to talk a bit more about it because It isn't as simple as being like well, I'll just you know offer translations and finance as well I'm you know, I know how to say banks and and you know some other financial terms in my other language And so it's fine Because it can go deeper than that first of all Financial translations usually, you know, this will include well It'll include a lot of financial statements income statements statement of cash flows balance sheets you know, whatever you all all that good stuff and this requires a tremendous amount of attention to detail and so Whenever I am looking at prospective translators to deal in finance no matter what language it is I always want to pay attention to their attention to detail This doesn't necessarily mean that every time they email me back and forth It has to be fluent in perfect English or whatnot You know, especially if they're translating into their own language Chinese Spanish, whatever it might be then, you know Fine, I'll assume they're native in that tongue But I do want them to pay attention to detail, you know, if they're they're not gonna Write it accidentally to the wrong person or send the email to the wrong person or send the wrong stuff for this and that Because I really do want someone who's Good at detail and that's because I know there's so much to deal with so much My new detail with all the numbers and everything categorized here and there There's nothing worse for a translator by the way when they assign a translation say a financial statement and they say, okay We need all this stuff translated into Into whatever language, you know, and so I have accounts receivable accounts payable, you know this that and the other There's nothing worse than if you send back a translation of everything listed out on a word document And then they have to spend, you know an hour trying to copy and paste what you did and put in the right box Make sure it's the right box and do all that and make sure the format is fine everything If you want to be worth Enough like if you want to be worth more if you want to be able to charge more and if you want to be able to be You know professional when you do your translations You're going to put it into the same Uh into the same table or whatever chart or something that they have You want to minimize the amount of work they need to do once they receive your translation So you need to do as much as you can for them and it's easier for you as well because you know what terms go in which box You know, they don't and so they're they're kind of guessing there. So I really uh, Think that's something that you should try to go the extra mile in and uh, and not just be like well I translated what accounts payable is in my language. So that's all they hired me to do Yeah, a lot of people do that and that's true, but That's why you shouldn't do that. That's why you should do something extra and kind of show that you do go the extra mile and you know and financial translations, unfortunately it has a lot of that And you'll find, you know, while most other translations, it's usually just a word document or text or whatever it might be And so it's very easy. You just sent I mean, it's not easy But you know, it's it's simple in that sense because you just send the text back and that's it with financial stuff You really do have all these things and so you kind of need to pay attention Obviously, obviously if it's in word, it's easier But many times what I've had to do as a translator is take what's written out or sorry if it's written in excel It's easier, but what I have to do is take what's written in excel And then I'm getting all these confused. Okay Many times I found myself what I have to do is take what's written in word And then put it into excel so I can have it in table format again and then put it back into word Or you know some variation thereof just so that it's I can send the client something clean that I know they can use right away and And you know, I don't have to worry too much about all the formatting because word gets totally weird when you try to do weird Things in uh in formatting. So I um Anyway, it's just something to keep in mind another thing to keep in mind is also many times You'll be say you receive an rfp You know request for people or you receive, you know, any type of documentation people are trying to enter into a new country say they're trying to go to china or to Bolivia whatever it might be and uh, you happen to know because you do translations into that language that they have different accounting standards You know, then that's something legitimate. You can bring up with them and can be like, look, I'm happy to translate this But by the way, I notice you bring up these in this accounting standards Uh, they have different accounting standards in this country. Um, do you want me to make my translation conform to that or not? If you're able to do that Once again, it's something that makes you very valuable as a translator And it means you can charge that much more if you're able to cash that and do that And if you look, uh, I I can put a link for this somewhere below But if you look up accounting standards in I think there's a wikipedia page. Yeah accounting, uh Then you see the list of different accounting standards around the world and you see, you know, Canada, France, Germany, India, Luxembourg, Nepal, Russia You know, all these there are a whole bunch of countries that have different accounting standards and um, you don't want to, uh I mean, you want to point it out to your client Be like, look, if you're entering this country, maybe you should try to conform to their accounting standards And anyway, you find these all over, you know, you'll see gap You'll see like fazby you see stuff like that and this is all stuff that can help you out By the way, it's not stuff that, you know, only can help you go there some other stuff You have to keep track of for instance numbers numbers are different everywhere you go If you want to write just one thousand one, I'm here in the states right now. If I want to write one thousand here It's one comma zero zero zero dot zero zero And um, in fact I'm going to get the whiteboard for this just to show you Okay, so if I'm in the states This is how I write one thousand right However, if I am in Italy I switch those two around here. I'll do it under it just so you can see the difference That's how I would write it in Italy see This goes here and the comma you say virgo that zero zero means dot this is uh Anyway, it gets switched around basically now if I'm in switzerland, it's still different Because I would write it this way. I'm getting confused. No. Yeah Anyway, you put this for one thousand in switzerland and every Country has their own thing right has their own way of writing this and you need to keep track of this when you're doing your translations By the way, then if you go into east asia, they don't even divide it Well, I mean it can get so confusing you go to places in east asia because Technically they don't divide it by three like this But what they do in east asia is they divide it by four like that So so while you know in english and most of the west you'll say something like you know 10 100 a thousand 10 000 100 000 a million 10 million a hundred and etc etc Here it goes by four and this is korea. This is japan. This is china And then when you get to china then they have their chinese characters for different numbers And they have other old-fashioned chinese characters They use in banks to make sure You know because they look more distinctive and to make sure they don't get confused So they can get as confusing as you want it to get So you need to make sure you know this and you can offer this to the client and um and unfortunately It's not always obvious and it's not always done A lot of translators don't do this and and it can be dangerous because with finehands You're dealing with you know a lot of finance and a lot of big numbers and so a lot can be a stake And you want to be someone reliable because if people can't count on you to get this stuff right then it can be very dangerous And so even if you get the translation, it's right But then you're copying down the numbers and you get the numbers wrong that can be dangerous If you get the numbers if you know you're messing up the commas and stuff like that with the numbers That can be dangerous And so people really So you should really try to pay attention to Pay attention to detail for finance. You have to pay attention to detail You have to pay attention to the numbers and you have to know what you're doing. Um, I usually uh I recommend that You know you have some financial background if you studied finance or you worked in finance for a bit or something along those lines You can't just jump into finance and if you if you've been translating literature or you know Even website marketing material stuff like that. You can't just jump into finance. You need to Know something about finance just because it can get so specific. I'm sure there are other areas Look, there are other areas that a lot more specialized you get into engineering or medical and stuff like that I won't touch those but I do deal with finance so I can tell you that there are quite a few issues with this And these are just some of the main ones So so hopefully that helps out if you are working in finance or if you're thinking about working in finance to see if It's the right move for you Feel free to let me know if if there are any other issues in finance that maybe I didn't mention or Or yeah, if you have other things in your specialty You know that you need to be careful about I mean every specialty has its own Things that you need to look for has its own way of translating its own mentality I've already mentioned before fiction can be so different from anything along the lines of Nonfiction basically because you know, it's a complete different mentality when you're translating So it can be really interesting. 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