In a company's disclosure of foreign currency transactions and hedges and translation adjustments, all of the following items should be disclosed except:
A)beginning and ending cumulative translation adjustments.
B)the amount of income taxes for the period allocated to translation adjustments.
C)the amount transferred from cumulative translation adjustment due to changes in foreign exchange rates.
D)the aggregate adjustment for the period resulting from translation adjustment.

Question

In a company's disclosure of foreign currency transactions and hedges and translation adjustments, all of the following items should be disclosed except:
A)​beginning and ending cumulative translation adjustments.
B)the amount of income taxes for the period allocated to translation adjustments.
C)​the amount transferred from cumulative translation adjustment due to changes in foreign exchange rates.
D)​the aggregate adjustment for the period resulting from translation adjustment.

Quizplus · Accepted Answer

C) is incorrect because companies typically disclose the beginning and ending balances of cumulative translation adjustments, the amount of income taxes allocated to those adjustments, and the aggregate adjustment for the period resulting from translation. However, they do not specifically disclose amounts transferred from cumulative translation adjustment due to changes in foreign exchange rates as a separate item.

In a Company's Disclosure of Foreign Currency Transactions and Hedges