handle the Financial and Accounting English it is essential if you need to fulfill your role in the area with international collaborators, partners and clients. gain fluency in technical English It's a goal that should be high on your priority list, whether you're a manager, aiming for global promotion, boosting your career, or starting your own business.
Financial and Accounting English
English for finance and accounting is an essential tool for accountants, business administrators, auditors, economists, financiers and other professionals who must embark on the management and analysis of international trade.
At first, learning it can be intimidating due to the number of terms and concepts that make it up. In addition, it requires the reinforcement of soft skills for its effective use due to the level of complexity of the language.
The professional who uses technical English for finance and accounting has the responsibility to read and create documents following international standards; at the same time, it must communicate this information in a simple way to multidisciplinary teams that are often unfamiliar with the terminology.
English skills needed for a finance professional
As you learn and memorize technical vocabulary, your tutor should also be able to help you develop the following skills that will turn it into everything A professional bilingual financeorand:
Analysis and reading comprehension
You must be able to understand texts in English in form and substance, as well as need to perform interpretations of financial content in English for your Spanish-speaking colleagues or those who do not have the slightest idea about the area but still need to closely follow your reports. .
Daily reading and listening to economic news in English, asking and answering technical questions (Also in English), dealing with new terms, making outlines and summaries of books or dense papers will help you exercise the muscle of reading comprehension.
Financial terminology in English is extremely broad and is subject to constant updating. You must stay competitive and keep the information in your area fresh. You will never stop learning and your memory will need constant reinforcement so that you do not forget your repertoire of technicalities.
Of course, you don't have to learn every technicality that exists, but you should try to absorb as many idiomatic words and phrases from financial English and business English as possible. It will greatly facilitate your daily work and will make you a world-class professional.
Having a C1 or C2 level is a must when learning technical English for finance.
When you are a C1 or C2 speaker, you are prepared to understand and present highly complex content without the help of translators, that is. Here, the student has the ability to get along with the language in social, academic and professional areas.
For this reason, during your learning of this type of English you must also take care of maintaining or advancing your general level.
Due to the nature of his work, you must use the appropriate tone and format in all your communications and documents; these have important legal effects on your business and mistakes and ambiguous expressions can get you into big trouble. In this sense, your tutor must instruct you on the rules of drafting and presenting financial information for international affairs.
think in english
Thinking in the language will help you to quickly navigate financial and accounting English. Your language will be more natural and more fluid.
To learn to think in English, start by inventing conversations in your mind by choosing a topic and developing it as much as possible and using creativity, it is an exercise that can be carried out anywhere.
Similarly, bringing these “mental conversations” into everyday life, practicing with English-speaking financial colleagues or a teacher specialized, it is very beneficial to develop security and argumentative consistency; something you will definitely need to quickly handle unexpected situations in meetings and calls.
Learn financial and accounting English
1. Consider a specialized English course
Learning any language is a difficult goal to achieve if you are doing it alone, especially if you have to deal with a busy work schedule and family responsibilities. For this reason, it is important that you have the right advice, which is not just any general English advice, but a course or study model that is thinking about your most immediate priorities: helping you to confidently the technical English of your area, all this in an optimal period of time and respecting their professional objectives.
Many people decide alearn everything you need in technical English courses, while others prefer to reinforce their self-taught study with a few hours of tutoring in English to practice oral communication. Whatever your case, it is necessary to have the guidance of a native speaker who knows the ways and uses of financial English, and who can also teach English as a second language.
Executives and entrepreneurs need a very special and personalized learning methodology for reasons of time, mental energy and use of the language. For this reason, if you start with the indicated study plan, you will surely achieve a good command in a period of approximately 4 to 6 months.
2. Resources to learn English for finance and accounting
Below, we offer you a series of resources that will be of great use to you in this journey of technical English for finances.
Investopedia: Financial terms dictionary is an educational website and works as a dictionary of terms specialized in technical English for finance. In it you will find a wide variety of Anglo-Saxon words and expressions related to this area of business.
This web portal offers the option that you can subscribe to the "end of the day", in order to offer you the possibility of knowing a new word related to this every day.
Dictionary of Finance and Banking
The Oxford Dictionary of Finance and Banking is a guide in accessible English that works as a reference source for the public interested in the financial field.
It is known as the most complete and up-to-date financial dictionary available and covers vocabulary used in banking, money markets, foreign exchange, public and government finance, private investment, loans, among others.
This is a financial dictionary in English that has more than 300 definitions of financial terms. This tool was made for education in finance, money and investments.
This guide groups the terms into financial categories, instead of doing it in the traditional alphabetical way.
Bloomberg Markets and Finance
Bloomberg Markets and Finance is a popular YouTube channel that provides the latest financial and market news from around the world. This is an extremely useful source of news information related to finance so that you are always up to date with what is happening in this area.
Accountingweb.com is one of the largest communities on the Internet for accounting professionals that stands out for its active participation online. It is packed with useful information and trends to guide those in tax and accounting to improve their practices.
English For Finance Playlist
English for Finance: Business English Vocabulary is a playlist of audiovisual content in English on the YouTube platform. Through helpful business technical vocabulary lessons, These videos deepen the concepts related to Business, thus helping him to develop listening skills to perform professionally.
3. Technical English vocabulary for finance and accounting
The accounting and finance world has its own language and even some of its terms are translated into Spanish in a similar way.
In this sense, we present a brief glossary of financial terms of great importance on a day-to-day basis that you can start using now.
- Current assets: Current assets
- Shareholder: Stockholder
- Gain: Income, profit
- Accounting book: Book
- Balance: Balance
- Overdraft: Overdraft
- Fiscal year: Fiscal year
- Tax: Tax
- Savings Bank: Savings account
- Devaluation: Devaluation
- Promissory note: Promissory note
- Line of credit: Credit facility, line of credit
- Stock exchange: Stock exchange
- Balance sheet: Balance sheet
- Capital turnover: Capital turnover
- Volume discount: Quantity discount
- Stockbroker: Broker, dealer
- Macroeconomics: Macroeconomics
- Microeconomics: Microeconomics
- Delivery month: Contract month
I recommend you train your vocabulary daily while keeping up to date in your area. You can do this by reading articles and reports that have gone through a quality editorial process (as in the case of academic and scientific publications) as you will learn the proper forms and uses of terms and concepts. The Journal of Finance and Accounting has a wide variety of verified articles that you can access freely.
Here's a bonus tip to help you with your new technical vocabulary!
If during your reading process you do not recognize a word, it is difficult for you to remember it when writing or mentioning it, record it in a notebook that you carry with you everywhere and repeat it several times as a plan. Write as you say it out loud repeatedly until you get the idea fixed in your mind.
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Personalized English Courses
Learn with native teachers specialized in technical vocabularies. Courses oriented to your objectives and at your own pace.