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The Foreign currency guide contains a summary of the framework for accounting for foreign currency matters, including the accounting for foreign currency transactions and translating the financial statements of foreign entities.
This guide was partially updated in June 2019.
The Foreign currency guide addresses the accounting for foreign currency transactions and foreign operations under US GAAP. The guide discusses the framework for accounting for foreign currency matters and their related accounting implications, and includes specific examples related to various topics, such as:
Functional currency determinations
Translation of financial statements of foreign entities
Highly inflationary economies
Intercompany transactions denominated in foreign currencies
Acquisitions and dispositions of foreign operations
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