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. : Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

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Answer 1

Question

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

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Answer 2

Question

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

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Answer 3

Question

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

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Answer 4

Question

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

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Answer 5

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

Answer 6

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

Answer 7

Chapter 11, Problem 11.1.4P

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.

: Compare the re-measured FCB trail balance to the FCB trial balance in part (1) and comment whether the objectives of translation have been achieved.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 11 - Prob. 1UTI Ch. 11 - Prob. 2UTI Ch. 11 - Prob. 3UTI Ch. 11 - Prob. 5UTI Ch. 11 - Prob. 1.2E Ch. 11 - Prob. 1.3E Ch. 11 - Prob. 1.4E Ch. 11 - Prob. 4E Ch. 11 - Prob. 6.2E Ch. 11 - Prob. 7E

Solution Summary: The author explains the difference between translation and re-measurement of foreign financial statements.

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