Accounting for Foreign Currency Transaction, Translations and Remeasurements
Companies with foreign operations or foreign business partners creates an additional level of complexity for the company’s financial reporting accountants. ASC 830- Accounting for foreign currency matters establishes the financial reporting requirements for accounting for foreign currency denominated transaction and the translation and/or remeasurement of consolidation of foreign currency denominated subsidiaries. Topics include:
Many companies rely too heavily on accounting systems to record FX effects and accountants sometimes struggle to explain how or why foreign currency transactions effect the reported results. This in-depth course will provide the detailed knowledge so that financial reporting accountants fully understand the impact of FX transactions and how FX denominated financial statements are consolidated.