temporal method(redirected from Temporal Accounting)
A currency translation method under which the choice of exchange rate depends on the underlying method of valuation. Assets and liabilities valued at historical cost (market cost) are translated at the historical (current market) rate.
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In accounting, a convention where assets and liabilities listed according to their market cost and denominated in a foreign currency are translated to the domestic currency at the current exchange rate while all assets and liabilities listed at their historical cost are translated at the exchange rate in effect when each asset or liability was acquired. See also: Current/Noncurrent Method.
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temporal methodsee FOREIGN CURRENCY TRANSLATION.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson