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Current Rate Method

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Current rate method
The translation of all foreign currency balance sheet and income statement items at the current exchange rate.

Current Rate Method
On a balance sheet, a way to recognize all expenses and revenues made in a foreign currency by translating them according to their spot exchange rate. The current rate method, while technically correct, makes financial statements more difficult to compile and evaluate because of the fluctuations in exchange rates that inevitably occur. See also: Constant currencies, Foreign currency translation.


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The practices used in Germany and Japan are even less well defined, although Choi and Mueller note that many German companies use a modified current rate method (with many firms using historic rates to translate fixed assets), while most Japanese companies use a modified version of the temporal method (translating long-term monetary assets and liabilities at their historic rates).
Where the current rate method is used, the unrealized translation gains and losses on the Company's net investment in these operations, including long-term intercompany advances, are accumulated in a separate component of shareholders' equity, described in the consolidated balance sheets as accumulated other comprehensive (loss) income.
Where the current rate method is used, the unrealized translation gains and losses on the Company's net investment in these operations, including long-term intercompany advances, are accumulated in a separate component of shareholders' equity, described in the consolidated balance sheets as accumulated other comprehensive loss.
 
 
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