What difference does it make whether the foreign operation's functional currency is the same or different than
Question:
What difference does it make whether the foreign operation's functional currency is the same or different than the parent's presentation currency? What method of translation should be used for each?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (5 reviews)
A foreign operation whose functional currency is different than the parents ...View the full answer
Answered By
Deepak Pal
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students. Areas of interest: Business, accounting, Project management, sociology, technology, computers, English, linguistics, media, philosophy, political science, statistics, data science, Excel, psychology, art, history, health education, gender studies, cultural studies, ethics, religion. I am also decent with math(s) & Programming. If you have a project you think I can take on, please feel welcome to invite me, and I'm going to check it out!
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Modern Advanced Accounting in Canada
ISBN: 978-1259087554
8th edition
Authors: Hilton Murray, Herauf Darrell
Question Posted:
Students also viewed these Business questions
-
What translation method should be used for a subsidiary that operates in a highly inflationary environment? Why?
-
Assume that all of the facts in Problem 3 remain unchanged except that Green paid $211,800 for 60% of the voting shares of Mansford. Required: (a) Prepare a consolidated balance sheet at January 1,...
-
EVA Company was incorporated on January 2, Year 5, and commenced active operations immediately. Ordinary shares were issued on the date of incorporation and no new ordinary shares have been issued...
-
Saeed made the following purchases of ordinary shares in Hyban plc: In June 2017, the company made a 1 for 20 rights issue at 1.50 per share and Saeed took up the shares which he was offered....
-
Suppose that p(x, y) is n open statement where the universe for each of x, y consists of only three integers: 2, 3, 5. Then the quantified statement y p(2, y) is logically equivalent to p(2, 2) p(2,...
-
Sol Electronics, a fast-growing electronic device producer, uses a standard costing system, with standards set at the beginning of each year. In the second quarter of 2011, Sol faced two challenges:...
-
A project has been selected for implementation. The net cash flow (NCF) profile associated with the project is shown below. MARR is 10 percent/year. a. What is the annual worth of this investment? b....
-
The book balance in the checking account of Johnson Enterprises as of October 31 is $5,718. The bank statement shows an ending balance of $5,217. The following information is discovered by (1)...
-
Shape Color Label Circle Blue 1 Circle Blue 0 Circle Green 0 Diamond Blue 0 Diamond Green 0 Diamond Green 0 Diamond Red 1 Square Blue 1 Square Square Red 1 Red 1 (a) What are the parameters of the...
-
In order to raise revenue to meet the increasing costs of government, a province and a territory each imposed a new tax on e-cigarettes. The legislation that the province enacted states: "Any person...
-
What should happen if a foreign subsidiary's financial statements have been prepared using accounting principles different from those used in Canada?
-
Hamilton Importing Corp. (HIC) imports goods from countries around the world for sale in Canada. On December 1, Year 3, HIC purchased 11,300 watches from a foreign wholesaler for DM613,000 when the...
-
Study the following and answer the questions below. The trial balance of Mary Harris (Gowns) as at 31 December 2015 showed a difference which was posted to a suspense account. Draft final accounts...
-
Compare the organizational structure of law enforcement agencies with the military including examples from both local law enforcement agencies, as well as state or federal law enforcement agencies...
-
How are cost drivers chosen? What happens to direct costs when a subunit is eliminated?
-
Which database is used by Blockchain? a . . Oracle b . . Big Data c . . MySQL d . . MongoDB
-
What is the type of Consensus in blockchain? a . . Proof of Work ( ( PoW ) ) b . . Proof of Agreement ( ( PoA ) ) c . . Proof of Truth ( ( PoT ) ) d . . Proof of Evidence ( ( PoE ) )
-
Your IT team is tasked to review the requirements to design a security operations center for your company. What is involved in collecting requirements for this project? Why is it often difficult to...
-
Below are the results of a survey of 1364 individuals who were asked if they use social media and other websites to voice their opinions about television programs. a. Show a joint probability table....
-
The time to assemble the first unit on a production line is 10 hours. The learning rate is 0.94. Approximately how long will it take for the seventh unit to be assembled? The number of hours needed...
-
On December 31, Year 4, Russell Inc. invested $20,000 in Charger Corp. Prior to this Russell had no interest in Charger. Upon review of the documentation related to Russells investment, the...
-
On January 1, Year 5, AB Company (AB) purchased 80% of the outstanding common shares of Dandy Limited (Dandy) for $8,000. On that date, Dandys shareholders equity consisted of common shares of $1,000...
-
On January 1, Year 1, Green Inc. purchased 100% of the common shares of Mansford Corp. for $335,000. Greens balance sheet data on this date just prior to this acquisition were as follows: The balance...
-
Creating structure in any organization is essential for success. An implementation structure for innovation is no different. In this two-part assignment, you will organizational structure for...
-
What role do regulatory frameworks, industry standards, and international conventions play in promoting integrity and combating corruption, money laundering, and unethical business practices on a...
-
How do leaders uphold ethical integrity in decision-making processes, navigating complex moral dilemmas and balancing competing interests while maintaining transparency and accountability?
Study smarter with the SolutionInn App