Web www.software-risk.co.uk

The US accounting standard that replaced FASB No. 8. US companies are required to translate foreign accounts in terms of the current rate and report the changes from currency fluctuations in a cumulative translation adjustment account in the equity section of the balance sheet.

Copyright © 2005, Campbell R. Harvey. All Worldwide Rights Reserved. Do not reproduce without explicit permission.

Related Articles
Financing decisions
Financial Accounting Standards Board (FASB)
FASB No. 8
FASB
Discretionary reserves
Current rate method
Contingent
Common-size analysis

Similar Areas

Finance Items

Selected Books

Keywords

FASB No. 52

US accounting standard

accounting standards

foreign accounts

current rate

equity section

balance sheet