Accounting conventions require that the changes in the market value of the offshore assets and liabilities, including changes caused by movements in the exchange rate, be brought to book.

Question

Quizplus · Accepted Answer

Accounting conventions, such as fair value accounting, require that changes in the market value of assets and liabilities, including those due to exchange rate fluctuations, be recorded in financial statements to reflect their current value.

Accounting Conventions Require That the Changes in the Market Value