CTA Account financial definition of CTA Account
Cumulative Translation Adjustment Account (redirected from CTA Account)
Cumulative Translation Adjustment Account
On a balance sheet
, an account where a company reports fluctuations in exchange rates
that have occurred since it acquired an asset
in a foreign currency
. CTA accounts exist because FASB No. 52
requires companies to report assets held in foreign currencies to be reported at their current exchange rates.
References in periodicals archive
CREIR CF CTA account
CUI 15855872, account 0011 3101 0019 9311 TBIB nr.
There are a finite number of transactions that flow thru the CTA account
, but due to the significant strengthening of the Canadian dollar during this period, the cumulative amount of this gain is certainly material to our balance sheet.