1. From your readings in the Special Module on foreign currency translation adjustments, summarize U.S.GAAP and IFRS differences on this topic and from the example in that module of one item that goes in Accumulated Other Comprehensive Income can you find such treatment in a company's equity section, either a US parent company or a foreign parent company?

Example of one item that goes in AOCI:

Functional Currency Translation Method Translation Adjustment Parent's (eng., US$) Temporal method Gain (loss) in income Foreign currency Separate component of stockholder's equity| Current rate method (accumulated other comprehensive income) Functional Currency Translation Method Translation Adjustment Parent's (eng., US$) Temporal method Gain (loss) in income Foreign currency Separate component of stockholder's equity| Current rate method (accumulated other comprehensive income)