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FASB No. 52 |
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FASB No. 52 The US accounting standard that replaced FASB No. 8. US companies are required to translate foreign accounts in terms of the current rate and report the changes from currency fluctuations in a cumulative translation adjustment account in the equity section of the balance sheet. FASB No. 52 An FASB guideline that requires American companies to record foreign exchange items on a balance sheet according to prevailing exchange rates. Adjustments for changes to market rates are only made when they affect the company's cash flow. It replaced the Statement of Financial Accounting Standards No. 8. 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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