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Accounting For Foreign Currency Translation Gains And Losses: A Comparison Of The Temporal Method Fasb #8 And Fasb #52, Richard J. Lee
Accounting For Foreign Currency Translation Gains And Losses: A Comparison Of The Temporal Method Fasb #8 And Fasb #52, Richard J. Lee
Theses
A culminating project in accounting is somewhat different than one that might be undertaken in other disciplines. While accounting is generally considered to be about numbers and therefore straightforward in application , there exist prescribed principles, procedures , and statements that must be adhered to by accountants . Viewing the discipline from this perspective the door is opened to vast areas of discussion and interpretation of accounting methods.
This paper compares three methods of treating foreign currency translation gains and losses , and the effect on reported earnings . It was written to accomplish three objectives.
- To present sufficient background …