| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,725,594,215 visitors served. |
|
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
Functional currency |
Also found in: Wikipedia | 0.02 sec. |
|
Functional currency As defined by FASB No. 52, an affiliate's functional currency is the currency of the primary economic environment in which the affiliate generates and expends cash. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
|
| ? Mentioned in | ? References in periodicals archive | |
|---|---|---|
| Both Section 987 and the 1991 proposed regulations require the taxable income or loss of a Section 987 QBU be computed in its functional currency and then translated at the average exchange rate (generally, an average of the daily exchange rates) into the functional currency of its owner. Absent special circumstances or elections, NEWCo's functional currency will be the euro, generating a tax basis in its assets of 100 [euro] under Sec. The proposed interpretation contains guidance on how an entity should restate its financial statements in the first year it identifies hyperinflation in the economy of its functional currency. |
| Financial Dictionary |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|