Financial Reporting Issues

Accounting for Foreign Currency v2.0

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.

"Important: This course was previously titled as "Accounting for Foreign Currency (Updated 2017)" Please be aware that the content or course code has not changed."

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.

Prerequisites/Advanced Preparation:

Basic Knowledge of Accounting.

Speaker / Author:

Steve Spafford, MBA, CPA, has over 20 years' experience as a CPA working with large public accounting firms, and in numerous executive roles at multinational public corporations. He is a member of DeltaCPE LLC, a leading publisher of continuing professional education courses for CPAs, and has edited CPA ethics courses provided to over 35 states.


Price (USD)

Standard: $49.90


Course Code : 99DEL01-v4

Release Date : 08/04/2021
Expire Date : 08/31/2023
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Intermediate
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Financial Reporting Issues

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