Foreign Currency Translation SFAS 52, December 1981 “Foreign Currency Translation” Translation of foreign currency financial statements 1. All items of financial statements are translated –>
Tag: ASC 830
Foreign Currency Transactions SFAS 52, December 1981 “Foreign Currency Translation” Foreign currency transactions Foreign currency transaction –> transactions denominated in the currency other than functional
Foreign Currency Transactions and Translation SFAS 52, December 1981 “Foreign Currency Translation” Functional currency 1. Functional currency –> the currency of the primary economic environment