1.
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.
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.
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.
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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Chapter 12 Solutions
Advanced Financial Accounting
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Financial Reporting, Financial Statement Analysis...FinanceISBN:9781285190907Author:James M. Wahlen, Stephen P. Baginski, Mark BradshawPublisher:Cengage Learning