Discuss the concept of functional currency under SFAS No. 52. What purpose does the functional currency serve? In your view, was it really necessary to include functional currency in SFAS No. 52?
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Discuss the concept of functional currency under SFAS No. 52. What purpose
does the functional currency serve? In your view, was it really necessary to include
functional currency in SFAS No. 52?
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- What does the term functional currency mean? How is the functional currency determined under IFRS and under U.S. GAAP?Explain the concepts of Local Currency, Functional Currency and Presentation Currency with suitable examples.Explain the foreign currency swaps and why are they undertaken? Explain the functional currency and what is a presentation currency.
- Explain what a currency instrument is? Give examples of such currency instrumentA) Explain the concepts of Local Currency, Functional Currency and Presentation Currency with suitable examples. B) Explain the rule for translating the Financial Statements of Foreign Operations from Local Currency to Functional Currency. C) Explain the rule for translating the Financial Statements of Foreign Operations from Functional Currency to Presentation Currency.What are the two broad categories of the various currency regimes? What are thesubgroups of those two broad categories?
- Describe the functional currency concept and briefly describe how a foreign entity’s functional currency Is determined.Explain the concepts of Local Currency, Functional Currency and Presentation Currency with suitable examples Explain the rule for translating the Financial Statements of Foreign Operations from Local Currency to Functional CurrencyDo the Wir and the eusko compete with national currencies