• Course Information

    Title: Accounting for Foreign Currency
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A018-0392
    CPE Credits: 2.0
    Price: $19.95
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Description

Description:
This course discusses the process of translating financial statements from foreign currency into U.S. dollars. It covers a range of topics for the accounting and reporting of foreign currency transactions as prescribed by ASC 830, Foreign Currency Matters, and ASC 815, Derivatives and Hedging. For instance, forward contracts may be entered into for hedging or speculative purposes. A sale or liquidation of an investment in a foreign entity may occur. Foreign currency dealings may create a tax impact. Finally, footnote disclosures are discussed so readers can properly appraise a company's exposure in overseas operations to variability in foreign exchange rates.

Delivery Method:

Level:

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 08/09/2018

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Objectives

Objectives:
1. Identify the different risks associated with foreign currency and exchange rates.
2. Recognize the factors affecting the selection a company's functional currency.
3. Identify how different foreign currency transactions should to be reported.
4. Recognized the terminology used in foreign currency transactions, and the requirements and objectives for remeasurement and translation.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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