Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company. Re-measurement: It is process to measure the financial results of any other currency into functional currency. Translation : It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company. The currency at which foreign entity will record transaction in its books. The functional currency of foreign entity. The process to restatement into U. S dollars.

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Answer 1

Question

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

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Answer 2

Question

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

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Answer 3

Question

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

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Answer 4

Question

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

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Answer 5

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

Answer 6

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

Answer 7

Chapter 12, Problem 12.4C

1.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

Answer 8

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

Answer 9

2.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

The currency at which foreign entity will record transaction in its books.

The functional currency of foreign entity.

The process to restatement into U. S dollars.

Answer 10

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

Answer 11

3.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

a. The currency at which foreign entity will record transaction in its books.

b. The functional currency of foreign entity.

c. The process to restatement into U. S dollars.

Answer 12

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

Answer 13

4.

To determine

Introduction: Consolidation is the process of combining financial results of various subsidiaries with the financial results of parent company. It is used only when parent company holds more than 50% of share of subsidiary company.

Re-measurement: It is process to measure the financial results of any other currency into functional currency.

Translation: It is the method used to convert financial results of the business of subsidiary company into the functional currency of parent company.

d. The currency at which foreign entity will record transaction in its books.

e. The functional currency of foreign entity.

f. The process to restatement into U. S dollars.

Answer 14

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Answer 16

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Answer 17

Ch. 12 - Prob. 12.1Q Ch. 12 - Prob. 12.2Q Ch. 12 - Prob. 12.3Q Ch. 12 - How widely used are IFRS? Can IFRS be used for...Ch. 12 - Prob. 12.5Q Ch. 12 - Prob. 12.6Q Ch. 12 - Prob. 12.7Q Ch. 12 - Prob. 12.8Q Ch. 12 - Prob. 12.9Q Ch. 12 - Prob. 12.10Q

Solution Summary: The author explains the process of re-measurement, which is used to convert financial results of various subsidiaries into the functional currency of parent company.

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Chapter 12 Solutions