foreign currency translation


Conversion of the accounting figures stated in one currency into another currency for financial reporting requirements. According to the U.S. GAAP regulations, the balance sheet items are converted at the exchange rate as on the balance sheet date, and income statement items are converted at the weighted-average exchange rate for the that year. The gains and losses resulting from the conversion are presented in the owners' equity section as a separate item. Any material change in the exchange rate occurring during the period between the financial statement date and the audit report date is disclosed in the following financial statement.

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You should try and make sure that you get a good foreign currency translation so that you know what the deal entails.

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In order to complete the quarter end reports, they had to complete the foreign currency translation for the balance sheets.

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My boss asked me to work with our currency experts to ensure that we would receive the correct foreign currency translation of our foreign subsidiaries' economic results.

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foreign currency swap Foreign Debt