Question

MF Global Holdings Ltd. reported items relating to foreign currency translation in several places in its 2011 10-Kreport. Included in general and other expenses on the 2011, 2010, and 2009 income statements respectively were translation gains or losses of $441, ($15,635), and $12,614, respectively ($ in thousands).
Also, the firm reported comprehensive income as follows:


Required:
A. Why does MF Global Holdings show a translation adjustment on the income statement and also on the statement of comprehensive income?
B. Can you explain the change in the translation adjustment from 2009 to 2010 on the statement of comprehensiveincome?


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  • CreatedMarch 13, 2015
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