Accounting for Foreign CurrencyCode: 20-FORCURR

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Course Details

 59 Pages

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 aninvestment 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. 

    Presentation Method:  QAS Self-Study

     

    Category: Accounting

     

    CPE credit:  2 Hours


    Program Level:  Update


    Prerequisites:  None


    Advance Preparation:  None


    Exam expiration date:  Participants must submit exams for grading within one year from the date of purchase

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American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

 

NASBA QAS Sponsor number 108096