A balance sheet presents a company’s assets, liabilities and equity at a particular date. It may be a standalone statement or part of annual, interim or consolidated financial statements together with an income statement, cash-flow statement, statement of changes in equity, notes and an auditor’s report. For international use, accurate translation is the core service, while authentication depends on the form and origin of the particular document.
What does “company balance sheet” mean?
The expression usually means an entity’s balance sheet, although it is sometimes used for the entire set of financial statements. The translation therefore follows the actual title and contents of the source without merging or renaming separate components. The reporting period, currency, unit of measurement and comparative columns are retained so that the relationship between the current and previous year remains clear.
When is a balance sheet translated?
A company balance sheet may be translated for bank financing, a public procurement procedure or tender, investor due diligence, an international audit, a company acquisition, a tax procedure, the opening of a branch or evidence of financial capacity for a foreign business partner. The recipient may request only the balance sheet or a complete set of financial statements. The scope is defined by that requirement and by the documents that need to be read together.
When is translation without legalisation sufficient?
In many commercial and intra-group situations, a professional translation of the supplied file is sufficient. This often applies to analysis by a bank, auditor, investor or partner when no formal authentication has been requested. Publication of annual financial statements in a commercial register does not by itself mean that every copy is eligible for an apostille. The form accepted by the particular recipient remains decisive.
When may certification or an apostille be required?
A company balance sheet normally originates from a private entity. An apostille does not confirm the accuracy of the figures, the accounting policy or the company’s financial position. If formal authentication is required, the applicable route may concern a certificate or certified copy issued by a register, a notarised signature on an accompanying declaration or another public instrument. Only such an authentication element may then fall within an apostille or consular-legalisation procedure, depending on the country.
What is checked in the financial translation?
The translation covers the company name, reporting date, currency and unit, asset and liability captions, subtotals, comparative figures, notes, signatures, seals and references to attachments. Figures are not converted arbitrarily, while terminology is selected according to its accounting function. For an electronic file, visible signature details, time stamps, registration numbers and verification information are preserved in the translated presentation.
How is a balance sheet used and what determines price and delivery time?
For a Bulgarian balance sheet intended for use abroad, the source of the document, the destination country and the recipient’s written requirement are considered together. For a foreign balance sheet submitted in Bulgaria, the country of issue, whether the source is a private file or an official register certificate, and the form accepted by the Bulgarian authority are relevant. Translation, certified translation, authentication of a copy and apostille are separate actions and are combined only where applicable. Price and delivery time depend on the language pair, number of pages, density of tables, legibility, file format, attached notes and audit materials, and the requested certification. La Fit Trans prepares a proposal for the actual financial set in which translation, editorial review, required copies and possible administrative actions are clearly separated.