Accounting  |  Format: Flash

Accounting for Foreign Currency (Updated 2017)

Course Overview
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 an investment 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.

Learning Objectives
After completing this course, the course participant should be able to:

  • Identify the different risks associated with foreign currency and exchange rates.
  • Recognize the factors affecting the selection of a company�s functional currency.
  • Identify how different foreign currency transactions should to be reported.
  • Recognize the terminology used in foreign currency transactions, and the requirements and objectives for remeasurement and translation.
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    Catalog Number: 99DEL01-v3
    CPE Credits: 2 Registry / 2 QAS
    Author: Steve Spafford, CPA
    Prerequisites/
    Advanced Preparation:
    Course Level: Basic
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     Adobe® Flash® Player 9 or higher
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: Feb 22, 2017 / Jun 30, 2021

     

     

     

     

     

     

    http://education.smartpros.com/includes/cpe/coursedetail.asp?CPECatalogID=25565&CourseID=17849