FASB No. 52

(redirected from Statement of Financial Accounting Standards Number 52)

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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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