Accounting for Foreign Currency
In today’s modern economy, the growth of foreign operations is continuing upward and the number of companies with foreign operations has expanded. For example, a company often operates in different economic and currency environments to stay competitive in the global marketplace. Thus, it must have a process for reporting foreign currency balances to address several financial reporting issues, such as determining functional currencies, accounting for foreign currency transactions, and translating its foreign entity’s financial statements. ASC 830 Foreign Currency Matters provides guidance for transactions denominated in a foreign currency, and for operations undertaken in a foreign currency environment. This course covers key aspects of the guidance and includes specific examples to illustrate its application. Relevant references to and excerpts from ASC 830 are discussed throughout the course.

Course Publication Date: December 11, 2020

This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $20.00!

Author:Delta CPE
Course No:ACT-FORCUR-4830
Recommended CPE:3.00
Delivery Method:QAS Self Study
Level of Knowledge:Basic
Prerequisites:None
Advanced Preparation:None
Recommended Field of Study:Accounting
  
Learning Objectives
  • Recognize key areas of guidance in ASC 830 Foreign Currency Matters.
  • Identify steps to remeasure foreign currency transactions to the functional currency.
  • Identify steps to translate foreign currency financial statements to the reporting currency.

CPE Depot 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.

Sponsor Number: 109423

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