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CPA FAR > 4- Foreign Operations > Flashcards

4- Foreign Operations Flashcards

1
Q

Transactional Currency

A

Local-Books & Records are kept. Remeasure I/S

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2
Q

Functional Currency

A

Greatest economic impact on company. Remeasure I/S, and Translate B/S

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3
Q

Reporting Currency

A

US dollars Translate B/S

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4
Q

Foreign Currency transactions and translations under IFRS

A

-Foreign, Functional, Presentation Currency

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CPA FAR (10 decks)

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