When a parent-subsidiary relationship exists between two companies in different countries using different currencies, the act or practice of changing the financial statements of the subsidiary to conform to the accounting standards of the parent's country, as well as re-denominating the subsidiary's currency into the parent's currency. According to the Generally Accepted Accounting Principles in the United States, the translation of a foreign currency to U.S. dollars must be accurate as of the date on the financial statement. If there have been substantial changes to the exchange rate since that date, the consolidated financial statement must note this.
The expression of amounts denominated in one currency in terms of another currency by using the rate at which two currencies are exchanged. For example, a firm with foreign operations might express sales made in German marks in terms of U.S. dollars. Also called foreign currency translation.
Demand for translation is increasing so there is a need for people who can deliver professional translation services, noted Komisyon sa Wikang Filipino's (KWF) Sangay ng Salin head John Enrico Torralba.
Barak Turovsky, head of product and design at Google Translate and Machine Intelligence, told ET that one of the critical gaps in translation of Indian languages is that there are not enough training data or translated data on the Internet.
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