Preguntas Orientadoras

1. What is Project Management?

It is a translation project that is related to the project management of a translation process. However, from an intercultural point of view, a translation project is much more complex; This is evident, for example, when considering translations of the Bible or other literary translation projects.

 

 

 

2. How do you have to manage translation projects?

It is necessary and important to have in mind these things

- Evaluation of the translation offer: In this first phase the translator must take into account the needs of his client, the type of material to produce, evaluate the limitations that can affect the life of the project and decide the alternatives and possible options.

 

- Preparation of a feasibility study of the project: Once the translator has basic information on the needs of his client and the product to be made, he must carry out a feasibility study, to extract all the necessary information before starting to work on the project.

 

- Establish the timeline needed to execute the project successfully: A good timetable should contain different phases of the project and the deadlines for each of the phases because it is a group project and the project manager will be in charge of distributing the different tasks among the translation team and will ensure the fulfillment of the Deadlines and quality requirements.

 

- Counting words and budgeting: During this phase a breakdown of costs will be made along with the list of deliveries, taking into account the different phases that we have established in the previous step. The word counting system to be used will be agreed with the client.

 

- Translation process: During which all the information collected in the feasibility study of the project must be taken into account. The task of localizing or adapting the text to the target environment must also be performed.

 

- Revision of the text: At this stage the information should be organized and ensure that the documents of the arrival text correspond to the documents provided with the source text. All formats must be adapted to those specified in the translation request and finally the necessary adjustments will be applied through the available quality control tools.

 

- Final delivery of material: Information about the process can be included.

 

 

 

 

3. Which financial concepts do you know? Could you state a technical definition?

Income statement: Also known as a profit and loss statement, the income statement shows in detail the income, expenses and profit or loss that has been generated by a company during a certain period of time, analyze this information (for example, know if You are generating enough income, you are spending too much, you are generating profits, you are spending more than you earn, etc.), and based on that analysis, you make decisions.

 

The balance: It shows in detail the assets, liabilities and equity that a company has at a given time.

 

Cash Flow: Displays cash flow and receipts flows (cash) that a company has had over a given period of time. But in addition, it allows us to know if the company has a deficit or a surplus of cash and, for example, to determine how much can buy of merchandise, if it is possible that it buys cash or is necessary or preferable to apply for credit, if it is Whether it is necessary or preferable that you cover cash or you may be able to provide credits, if it is possible to pay debts by the due date, or you need to apply for a refinance or new financing, etc.

 

 

 

4. Try to define Financial Statements

They are a formal record of the financial activities of a company, person or entity to make known the  situation economic,  financialand and the changes that it experiences at a certain date or period. They contain relevant financial information presented in a structured manner and in an easy-to-understand form.

Most of these reports constitute the final product of accounting and are prepared in accordance with generally accepted accounting principles, accounting standards or financial reporting standards.

 

 

 

5. Which are the most representative parts of the Financial Statements of a company?

There are five representative parts of the financial statements, these are:

- The Balance

- The income Statement

- The Statement of Changes

- The Statement of Cash

- Notes to the Financial Statements