FASB 52 requires

Question

FASB 52 requires

Quizplus · Accepted Answer

FASB 52 requires the current rate method of translation in some circumstances and the temporal method in others. These methods are used to translate foreign currency financial statements into the reporting currency of the company. The choice between the methods is based on the functional currency of the foreign entity and the nature of the assets and liabilities being translated. The current rate method is used when the functional currency is the same as the reporting currency, and the temporal method is used when the functional currency is different from the reporting currency.

FASB 52 Requires