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Explain the distinction in the translation process among the monetary/nonmonetary method and the temporal method.
Answer: Within the monetary or nonmonetary method, every monetary balance sheet accounts of a foreign subsidiary are transformed at the current exchange rate. Other balance sheet accounts are translated at the historical rate exchange rate effectively while the account was first recorded. Within the temporal method, monetary accounts are translated at the current exchange rate. Other balance sheet accounts are as well translated at the current rate, if they are accepted on the books at current value. If they are accepted at historical value, they are translated at the rate in effect on the date the item was put on the books. Because fixed assets and inventory are generally accepted at historical costs, the temporal method and the monetary/nonmonetary method will usually provide the same translation.
The calculations for the cash flows Actual amount of cash paid or received during the period needs to be established. This can get quite tricky as there would be accruals
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how can I state contract cost from the screech.
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Discuss the applicability of the operating cycle to poultry business in Uganda(consider broilers)
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