A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Accounting Standards Codification (ASC) 830 contains five subtopics: ASC 830‐10, Overall; ASC 830‐20, Foreign Currency Transactions; ASC 830‐30, Translation of Financial Statements; ASC 830‐250, Statement of Cash Flows; ASC 830‐740, Income Taxes. ASC 830 provides guidance about: Foreign transaction and Translation of financial statements. To facilitate the proper analysis of foreign operations by financial statement users, transactions and financial statements denominated in foreign currencies must be expressed in a common currency. Preparing financial statements in a single currency requires the entity to recognize and measure changes in the relationship between different units of currency. The guidance in ASC 830 was issued in 1981 and has not changed since that time. The guidance assumes the reporting entity: is located in the United States; uses the U.S. dollar as its reporting currency; is an operating company with a functional currency in U.S. dollars; and provides support to its foreign operations.
Accounting Standards Codification (ASC) 830 contains five subtopics: ASC 830‐10, Overall; ASC 830‐20, Foreign Currency Transactions; ASC 830‐30, Translation of Financial Statements; ASC 830‐250, Statement of Cash Flows; ASC 830‐740, Income Taxes. ASC 830 provides guidance about: Foreign transaction and Translation of financial statements. To facilitate the proper analysis of foreign operations by financial statement users, transactions and financial statements denominated in foreign currencies must be expressed in a common currency. Preparing financial statements in a single currency requires the entity to recognize and measure changes in the relationship between different units of currency. The guidance in ASC 830 was issued in 1981 and has not changed since that time. The guidance assumes the reporting entity: is located in the United States; uses the U.S. dollar as its reporting currency; is an operating company with a functional currency in U.S. dollars; and provides support to its foreign operations.
ASC 830 Foreign Currency Matters
Flood, Joanne M (author)
Wiley <fc>GAAP</fc> 2018 ; 1077-1096
2018-03-12
20 pages
Article/Chapter (Book)
Electronic Resource
English
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