FASB No. 52

Filed Under: f by
FASB No. 52
An accounting standard used in the U.S. to replace the previously used FASB No. 8. Companies in U.S. need to translate overseas accounts by the prevailing rate and report any changes arising from currency fluctuations in a consolidated cumulative adjustment account. This is presented in the balance sheet in equity section.

Recommended for you:

  1. FASB No. 8
  2. Cumulative Translation Adjustment (CTA) Account
  3. FASB
  4. Currency Adjustment Factor
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