All through life, we are confronted by today’s word and understandably it makes most of us nervous. Whether it is trying to explain a failing grade in geometry (on a report card or progress report), standing in front of an audience and talking about a given topic (as in ‘giving an oral report’), the embarrassingly self-explanatory police report, or, potentially the most painful of all, the financial report – the word report, for many, is the ultimate judgement between what is good and what is bad.
At its most basic definition, a report is simply a formalised explanation of a particular thing or event. For example, with this being January and business beginning to release their quarterly and annual financial statements, these are simply monetary reports of a business’ financial activities during the past quarter or year.
Originating in late Middle English, our word comes from the Old French words report, as a noun, and reporter, as a verb. However, the root of the word comes from the Latin prefix re- and root verb portare, literally meaning ‘to carry back,’ or, as we would say, ‘recount events.’
When it comes to the first usage of the word, things get a bit tricky. The word was first used around 1425, though in 2 different contexts. First and foremost, The Master of Game, Edward, Duke of York, writes that: “Everyone shall say his report to the lord of what they have done and found,” considering the word as an accounting of a situation. Additionally, John Lydgate, in his poem Troy Book, using the word as simply gossip or hearsay, writes: “Men put me in blame for false report & wrong opinion.”
Though the word only arrived in the 15th century, ever since the use of monetary systems, there has been a need for a business to be aware of their financial performance and standing. Even before the formation of the first corporations in the early 1600s or even the earliest companies in Japan during the 700s, the assumption must be made that there were financial reports at least for tax purposes.
And as we enter earnings and reporting season for many businesses, let us hope that, considering the 2 oldest and most common definitions, the reporting will be based on accurate findings and not on gossip or rumour.
And when it comes to the financial reports of international companies, those usually need translations into several languages, yet the field of annual report translations is one with many pitfalls. Click here to read our article: → Annual Report Translation – The Supreme Discipline of Professional Translation Companies
