Foreign Currency Accounting

Course Description:

This course discusses the process of translating financial statements from foreign currency into U.S. dollars. It also covers the accounting and reporting of foreign currency transactions.   
Other topics covered include:

• Tax impact related to foreign currency dealings

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Explain the factors affecting the selection of a company’s functional currency
• Identify foreign currency transactions resulting in a receivable or payable
• Determine gain or loss that needs to be recorded at balance sheet date
• Explain the objectives of translation
• Describe the process of foreign currency translations
• Account for hedging transaction