Peeling away financial reporting issues one layer at a time

Accounting for International Operations

Accounting for international operations can be highly complex and there are many policy choices to be made. I provide up-to-date knowledge of the latest developments (accounting and economic) needed for managing financial reporting, currency and operating risks.

The Basics of Foreign Currency Translation

  • Basic concepts and accounting principles
  • Translation under the current rate method
  • Remeasurement under the temporal method
  • Measuring and interpreting accounting exposure to foreign exchange

Critical Details of Foreign Currency Translation

  • Preparing and interpreting the statement of cash flows
  • Determining the functional currency
  • Hyperinflation
  • Changes in the functional currency
  • Intracompany transactions
  • Tips for woking with exposures in multiple currencies
  • Premiums and discounts on forward contracts
  • Fixed rate debt securities held as “available for sale” by a subsidiary
  • Asset impairment

Procedures for Consolidation of Foreign Subsidiaries

  • Comprehensive case study

Foreign Currency Derivatives and Hedge Accounting

  • Overview of hedge accounting standards
  • Hedge accounting alternatives
  • Case studies