When incorporating, it is important to consider whether or not the companys business deals internationally.

• Summarizetheimpactofforeignexchangeratesonthecompanysfinancialstatements.
• Whatrisksdoforeignexchangeratespose?
• What are the two methods used to translate financial statements and how does the functional currency play a role in determining which method is used?
• Compose a hypothetical example to demonstrate the translation process using the two methods. Ensure all information is entered accurately