Discuss the differences in the translation process when translating from a local currency to a functional currency
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 73% (15 reviews)
Note para 23 for functional currency translation Note para 39 for presentation translation In relati...View the full answer
Answered By
Diksha Bhasin
I have been taking online teaching classes from past 5 years, i.e.2013-2019 for students from classes 1st-10th. I also take online and home tuitions for classes 11th and 12th for subjects – Business Studies and Economics from past 3 years, i.e. from 2016-2019. I am eligible for tutoring Commerce graduates and post graduates. I am a responsible for staying in contact with my students and maintaining a high passing rate.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Applying International Financial Reporting Standards
ISBN: 978-0730302124
3rd edition
Authors: Keith Alfredson, Ken Leo, Ruth Picker, Paul Pacter, Jennie Radford Victoria Wise
Question Posted:
Students also viewed these Accounting questions
-
Discuss the differences in the type of budgets applicable for a manufacturer compared to a government department.
-
Select the best answer for each of the following items: 1. Golf Company acquired 80% of the outstanding stock of Ping Company, a foreign company, in an acquisition accounted for as a purchase...
-
In SFAS No. 52, the FASB adopted standards for financial reporting of foreign currency exchanges. This release adopts the functional currency approach to foreign currency translation. Required: a....
-
Explain how each of the following illustrates one of the four principles of interaction. a. At a college tutoring co-op, students can arrange to provide tutoring in subjects they are good in (like...
-
The accounts of Deluxe Patio Service, Inc., follow with their normal balances at June 30, 2012. The accounts are listed in no particular order. Requirements 1. Prepare the companys trial balance at...
-
The breaking strength X of a certain rivet used in a machine engine has a mean 5000 psi and standard deviation 400 psi. A random sample of 36 rivets is taken. Consider the distribution of X, the...
-
What three elements must be included in the caption of a complaint?
-
(Conceptual FrameworkGeneral) The Financial Accounting Standards Board (FASB) has developed a conceptual framework for financial accounting and reporting. The FASB has issued seven Statements of...
-
Studies report that heredity has a strong influence on an individual's personality. How can this affect how positions are evaluated and advancements are allocated? What are the implications of this...
-
ROE and ROIC Baker Industries net income is $27000, its interest expense is $4000, and its tax rate is 40%. Its notes payable equals $23000, long-term debt equals $70000, and common equity equals...
-
Based on the above, determine the functional currency of the foreign subsidiaries. Explain your choice.
-
Discuss the use of a foreign currency translation reserve to account for movements in exchange rates compared with taking gains/losses as a result of movements in exchange rates directly to the...
-
Enright Company expects to have a cash balance of $46,000 on January 1, 2014. These are the relevant monthly budget data for the first two months of 2014. 1. Collections from customers: January...
-
What does the following output? A. [a, lamb, had, Mary, little] B. [a] C. [a, a] D. The code does not compile. E. The code throws an exception at runtime. 18: List list List.of( 19: "Mary", "had",...
-
Which exception classes, when inserted into the blank in the Problems class, allow the code to compile? A. Exception B. RuntimeException C. MissingFoodException D. MissingMoneyException,...
-
How many lines of text does the following program print? A. One. B. Two. C. Three. D. The code does not compile. E. None of the above. package bee; class SpellingException extends RuntimeException {}...
-
What is the output of the following application? A. 145 B. 1345 C. 1235 D. The code does not compile. E. The code compiles but throws an exception at runtime. F. None of the above. package game;...
-
What is the output of the following application? A. 0 B. Caught! C. The code does not compile because LostBallException is not handled or declared in the main() method. D. The code does not compile...
-
On March 31, Babb Company had the following payroll liability accounts in its ledger: In April, the following transactions occurred: Apr. 4 Sent a cheque to the union treasurer for union dues. 7 Sent...
-
Perform the indicated operations. In designing a cam for a fire engine pump, the expression is used. Simplify this expression. (3) (3 4 32
-
Speech by SEC Chairman: (In Part) Remarks Before the Financial Accounting Foundations 2011 Annual Board of Trustees Dinner by Chairman Mary L. Shapiro U. S. Securities and Exchange Commission...
-
The Jones Company debits prepaid insurance for insurance premiums paid. During the year insurance expense is computed for interim periods and insurance expense is debited and prepaid insurance is...
-
SEC Charges Royal Ahold and Three Former Top Executives with Fraud; Former Audit Committee Member Charged with Causing Violations of the Securities Laws for Immediate Release 2004- 144 Washington, D....
-
[Linear probing] Second-order probing (quadratic probing) in hash tables works so that instead of always checking the cell immediately after (ie h(k) + 1), we first check cell h(k) + 12, then in cell...
-
Pardo Company produces a single product and has capacity to produce 160,000 units per month. Costs to produce its current monthly sales of 128,000 units follow. The normal selling price of the...
-
Brown Corporation operates in a state with no sales tax. The company uses the perpetual inventory system. DATE TRANSACTIONS June 5 , 2 0 X 1 Sold merchandise on account to Whiteside Company; issued...
Study smarter with the SolutionInn App