Fasb

FASB 52 Foreign Currency Translation | |Remeasurement |Translation | |Also referred to as |Temporal Method |Current Method | |Criteria for use | utilise when accounting records are not kept in the | utilize when accounting records are kept in the | | |functional money and for highly inflationary |functional currency (as long as that currency is | | |functional currencies |not considered highly inflationary) | |Description |No attempt is made to preserve relationships that |Foreign entity is viewed as a separate business. | | |exist in foreign units financial statements. The |The only factual financial statements are those | | | target area is to remeasure nonmonetary assets at |denominated in the foreign currency. The | | |historical currency interchange rates.

The end result|translation process should maintain the | | | may bear little relationship to the foreign |relationship among variables (e.g., original ratio, | | |currency statements used by local management |debt to equity). | | world(prenominal) useage |Temporal method or the monetary/nonmonetary method |use by nearly 50% of countries (including almost | | |is |all of western Europe and Japan) | | |used by nearly 50% of countries.... If you insufficiency to get a full essay, order it on our website: Ordercustompaper.com

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