Accounting for Translation of Foreign Currency Transactions and Foreign Currency Financial Statements Exposure Draft PDF Download
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Author: Canadian Institute of Chartered Accountants
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Canadian Institute of Chartered Accountants
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Chris Sebastian Heidrich
Publisher: GRIN Verlag
ISBN: 3638358496
Category : Business & Economics
Languages : en
Pages : 115
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Book Description
Diploma Thesis from the year 2004 in the subject Business economics - Accounting and Taxes, grade: 1,7, University of Hohenheim (FB Betriebswirtschaftslehre), course: Betriebliches Rechnungswesen, language: English, abstract: This book deals with foreign currency translation under IAS/IFRS considering hedging strategies that help to minimize foreign currency exposures. It is broadly described, which currency exposures companies face, which basic hedging strategies exist and how they are accounted for in consolidated financial statements of international groups. After the foreign currency exposures are introduced and basic hedging strategies for each of these exposures are provided, the procedure of foreign currency translations according to IAS 21 (revised 2003) is introduced. The paper deals with the translation of transactions denominated in currencies other than the company’s home currency as well as with the inclusion of foreign subsidiaries in the consolidated financial statements. Therefore, various examples are provided. As the topic of the thesis is foreign currency hedging, a closer look is taken on IAS 39 (revised 2003) which includes introduction of the three kinds of hedging and their accounting as required by IAS 39. Especially the links between IAS 21 and IAS 39 are pointed out and analyzed. Also the section dealing with IAS 39 provides various examples that make the reader understand the accounting and consolidation procedures. At the end, exposure drafts of the IASB dealing with IAS 39 are introduced and the possible effects are briefly mentioned. This paper also includes a case study, based on the example of a big Chilean incorporated Company. This case study provides the problems and possible solutions of foreign currency risks a “real” company faces as well as the related accounting issues. Furthermore, the case study shows, how foreign currency hedges are accounted for using other accounting principles (here Chilean GAAP) and which steps have to be taken to perform a reconciliation from Chilean GAAP to IFRS. As the thesis has been presented at a German university, all questions and important points are seen from both, a theoretic view and a practical view. It provides the reader a comprehensive knowledge of currency translation and hedge accounting and makes him able to understand where these two topics are linked and which problems related to this topic companies face when preparing (consolidated) financial statements under IFRS.
Author: Ernst & Whinney
Publisher:
ISBN:
Category : Financial statements
Languages : en
Pages : 60
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Author: Dahli Gray
Publisher: Routledge
ISBN: 1351985027
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Multinational corporate managers, financial analysts, and accountants disagree on what constitutes the appropriate process of translating and consolidating foreign financial statements into US financial statements. In this book, first published in 1993, the author examines financial accounting regarding foreign currency translation for and by multinational corporations by developing: (a) an historical background for the topic, (b) a comparative analysis of two foreign currency translation accounting standards, (c) a topical review of relevant prior research, and (d) a study of multinational corporate managers’ actions when they face a choice between two accounting standards. This title will be of interest to students of business studies.
Author: Denise M. Guithues
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 170
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Author: Financial Accounting Standards Board
Publisher:
ISBN:
Category : Accounting
Languages : en
Pages : 0
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Author: Robert Rowan
Publisher: John Wiley & Sons
ISBN: 111805668X
Category : Business & Economics
Languages : en
Pages : 191
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Book Description
The first A-to-Z guide for successfully working in foreign currency environments Destined to become an essential desktop tool helping professionals build a solid foundation in the background, history, and fundamental mechanics of foreign currency and exchange rates, this must-have guide allows you to report past transactions accurately and also to forecast the impacts that volatile exchange rates could have on your business. Packed with everything you need to know about exchange rate requirements, including world currency formats and key links to additional resources, this is the single source you'll want to have at your side to understand and successfully use foreign currency reporting concepts. Get from Yen to Euro without losing your way Clarifies an intimidating topic into practical application Helps you function effectively in the multicurrency reporting environment Addresses common points of confusion Demystifies IFRS Your company could swing from profit to loss without a single change in operations, simply by movement of exchange rates. Get ready with the on-the-spot foreign currency answers you need in Foreign Currency Financial Reporting from Euro to Yen to Yuan. It's the easy-to-use, definitive source you can turn to for a clear, concise, practical understanding of multicurrency environments.
Author: Kathleen Ranney Bindon
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 176
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Author: Financial Accounting Standards Board
Publisher:
ISBN:
Category : Accounting and price fluctuations
Languages : en
Pages : 42
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Author: Ian J. Martin
Publisher: Lexis Law Publishing (Va)
ISBN:
Category : Business & Economics
Languages : en
Pages : 340
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Book Description
The foreign exchange market; Foreign currency exposure; Exposure management; The financial reporting environment; An accounting overview; Foreign currency Transactions; Balance sheet translation; ...
