In part 2 of the series introducing specialized accounting and financial vocabulary, Digital Translation 1 will continue to explore specialized terminology in more depth, focusing on the professional fields and operations in financial and banking organizations.
We’ve expanded the list with technical vocabulary to help you get a better grasp of this specialized language. The following terms are designed to provide a comprehensive overview of financial concepts and operations, from credit management to financial instruments, and how they are applied in practice at financial institutions and banks:
- Consumer Credit: A type of credit provided to individuals to purchase goods and services with the condition of paying back later.
- Contract: A legal document that records an agreement between two or more parties, which may include financial or service terms.
- Correspondent Bank: A bank that has a partnership to provide services or perform transactions on behalf of another bank.
- Cost of Pollution: Costs associated with reducing or eliminating environmental pollution.
- Credit: The act of providing a loan or crediting a sum of money to a party's account.
- Credit Management: The process of controlling and managing the provision of credit, including credit assessment and debt collection.
- Credit Period: Time allowed for a buyer to pay for goods or services without incurring interest.
- Credit Rating: Assess the risk level of an individual or organization in paying debts.
We will also introduce concepts related to bank accounts, expenses and finance, such as Current Account, Current Cost, and Expenditure, along with financial instruments such as Documentary Credit and Forfaiting. Each term is not only defined but also comes with practical examples, helping learners apply it effectively in professional work.
>>> Learn more: Specialized translation in Finance and Accounting
Here is a glossary:
69. Consumer credit (n): Consumer credit
70. Contract (n): Contracts
71. Correspondent (n): Bank with correspondent relationship
72. Cost of pollution (n): Cost of damage
73. Credit (v): Provision of a loan
74. Credit arrangement (n): Debt settlement
75. Credit control (n): Credit control
76. Credit instrument (n): Credit tools
77. Credit management (n): Credit Management
78. Credit period (n): Credit term
79. Credit rating: Credit Rating
80. Credit-status (n): Financial standing of a company or person (Credit standing)
81. Credit-worthiness (n): Financial reliability
82. Current account (n): A bank account for day-to-day use (Current account)
83. Current cost (n): Current costs
84. Current expense (n): Current costs
85. D/A (n): Documents by acceptance
86. D/P (n): Documents according to payment
87. Data bank (n): Data Bank
88. Data base (n): Database
89. Deal (n): The sale
90. Debit (v): Subtraction of money from an account (Debit)
- Debt (n): Debt
- Debtor (n): Debtor
91. Decision (n): The decision
92. Default (v): Failur to pay (Failure to pay on time)
93. Deposit account (n): Deposit account
94. German mark (n): West German currency
95. Distinct (adj): Impression
96. Digest: Summary
97. Dinars: Currency of Yugoslavia, Iraq
98. Direct debit (n): Direct Debit
99. Discount market (n): The market for Bill of Exchange (Discount market)
100. Distinguish (v): Distinguish
101. Distribution (n): Distribution
102. Documentary collection: Document collection
103. Documentary credit (n): A bank credit bases on provision of correct shipping documents (Letter of credit)
~ Documentary letter of credit
104. Domestic (adj): Reign
105. Draft (n): Bill of exchange
106. Draw (v): Signed
107. Drawee (n): Drawer's Bank
108. Drawing (n): Drawer (Check)
109. ECG: Export Credits Guarantee Department (UK): Export Credits Guarantee Department (UK)
110. Elect (v): Choose, vote
111. Eliminate (v): Exclude, except
112. Inquiry (n): Investigation
113. Entry (n): Accounting
114. Equity (n): A stake in a company which shares the risk of the business (Dividends)
115. Establish (v): Establish, establish
116. Estimate (n): Assessment, estimation
117. Evaluation (n): Estimate, valuation
118. Exchange risk: Risks in Conversion
119. Exempt (adj): Exempt
120. Expenditure (n): Cost
121. Export finance (n): Export finance
122. Export insurance: Export insurance
123. Facility (n): Easy means
124. Factor (n): A company buying invoices at a discount
125. Factor (n): Factor
126. Factoring (n): Factoring, document discounting
127. Fail to pay: Unable to pay debt
128. Fill me in on: Give me more details
129. Finance (n): Finance
- Finance (v): Finance
- Finance sector (n): Finance sector
- Financial institution (n): Financial institution
130. Firm (n): Company, factory
131. Fitting (n): Things
132. Fixed asset (n): Fixed assets
133. Fixed cost (n): Fixed costs
134. Flexible: Flexible/ mobile
135. Foreign currency (n): Foreign exchange
136. Forfaiting (n): Payment factoring
- Forfaiting (n): Factoring company
137. Form (n): Form
- Form (v): To establish
138. Forward (v): Transfer/transport
139. Found (v): Establishment, formation
- Founder (n): Founder
140. Freight (n): Shipping
141. Gearing (n): Loan capital
142. Generate (v): Arise
143. Get paid (v): Paid (Payment)
144. Give credit: Credit (Deferred Payment)
145. Good risk (n): Low risk
English Translation Service for Finance and Accounting - Translation Number 1
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>>> Read more: Terminology in English Translation of Financial Accounting Part 3
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