Interest related topics 835-20: Capitalization of interest For certain qualifying assets, interest costs are capitalized –> and included in determining the acquisition cost of asset
Author: accta
Foreign Currency Translation SFAS 52, December 1981 “Foreign Currency Translation” Translation of foreign currency financial statements 1. All items of financial statements are translated –>
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
Fair Value Option SFAS No. 159, February 2007 ” The Fair Value Option for Financial Assets and Financial Liabilities” Fair Value Option(FVO) –> Option to
Fair Value Measurements SFAS N0. 157, September 2006 “Fair Value Measurements” Fair Value is the price an entity would receive when an asset is sold