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