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Current/Noncurrent Method |
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Current/noncurrent method The translation of all of a foreign subsidiary's current assets and liabilities into home currency at the current exchange rate while noncurrent assets and liabilities are translated at the historical exchange rate; that is, the rate in effect at the time the asset was acquired or the liability incurred. Current/Noncurrent Method In accounting, a convention where all current assets and liabilities in a foreign currency are translated to the domestic currency at the current exchange rate while all long-term assets and liabilities are translated at the exchange rate in effect when each asset or liability was acquired. See also: Temporal Method. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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