Handbook: Foreign currency
Handbooks | January 2024
Latest edition: Our in-depth guide on accounting for foreign currency matters.
Our comprehensive handbook provides detailed guidance and interpretations of ASC 830, with illustrative examples and Q&As.
Applicability
- Companies that have transactions denominated in a foreign currency
- Companies that have operations in a foreign currency environment
Key impacts:
Among other things, this January 2024 edition incorporates new or additional guidance on:
- Items to consider if an entity holds an investment in an entity domiciled in a country with significant economic and political uncertainty
- When a preference exchange rate is appropriate to use for remeasurement
- Why certain unofficial rates, such as blue-chip rates, are not considered exchange rates
- Disclosure considerations when a foreign entity operates in a country with multiple exchange rates
Report contents
- Overview of accounting for foreign currency
- Functional currency
- Foreign currency transactions
- Translation of foreign currency financial statements
- Foreign currency derivatives and hedging foreign currency risk
- Presentation and disclosures
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