Advanced Accounting
12th Edition
ISBN: 9781305084858
Author: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Publisher: Cengage Learning
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Question
Chapter 11, Problem 11.1.2P
To determine
Difference between Translation and Re-measurement of Foreign Financial Statement:
- Translation is most commonly used method and also called current rate method, Whereas Re-measurement is called temporal method.
- Translation is applied when local currency is equal to functional currency, Whereas Re-measurement is required only when functional currency is different from currency used to maintain books.
: Preparationof schedule to re-measure the FCA
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