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What is the concept of current rate method of translation

Assignment Help Managerial Accounting
Reference no: EM13499757

1)   Translations and Reporting Issues

A)     What is the concept of current rate method of translation and temporal method of translation? How does balance sheet exposure differ under these two methods?

Provide your reference in Apa-Format and include any In-text citation

B)   The 2010 financial statement of Child Co. Inc (Mexico), a subsidiary of Parent Co. Inc (United States), reveals the following information:

Beginning Inventory 

Peso 100,000

Purchases     

Peso 500,000

Ending Inventory      

Peso 150,000

COGS   

Peso 450,000

US dollar exchange rate for 1 Peso:

 

January 1, 2010

$0.45

Average, 2010      

$0.42

December 31, 2010  

$0.38
  • The beginning inventory was acquired when the exchange rate was $0.50 last quarter of 2009; ending inventory was acquired when the exchange rate was $0.40 last quarter of 2010.
  • Report amounts of ending inventory and cost of goods sold to be included in the consolidated financial statements under (1) Current rate method and (2) Temporal method.

2)   Analyzing Foreign Financial Statements 

A)   What are some of the problems an analyst might encounter in analyzing foreign financial statements?

Your well written 2-3 page essay should outline these problems, citing real-world examples from at least two outside sources. Please ensure your paper is formatted per according to the standards for APA style and provide in-text citation. You may also want to explore the following websites:

  • www.ifrs.org
  • www.fasb.org
  • www.aicpa.org

Reference no: EM13499757

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