The Financial Accounting Standards Board issued Statement 52, Foreign Currency Solution, in December 1981. Also known as Accounting Standard Codification 830, FAS 52 provides guidance on handling ...
The federal government has released draft legislative proposals to implement amendments to the functional currency tax reporting rules. “The proposals I am announcing today will improve the tax system ...
Companies need to translate foreign currencies when they trade in those currencies and when they have foreign operations that use differing currencies. Accounting standards insist on a consistent ...