Master Foreign Currency Transactions & Translation | Universal CPA Review
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- Опубліковано 5 вер 2024
- This video will help you master foreign currency transactions and remeasurement/translation.
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Very well explained. Just started my CPA journey, your videos are helping me a lot.
Best of luck!
Thank you for this refresher!! I am taking FAR in two days and I had a hard time differentiating and keeping the differences straight between foreign currency transactions/remeasurement/translation!
thanks a lot for explaining this concept as simple as possible :)
You’re welcome! Come sign up for a free 7-day trial!
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Sooooo good...extremely well explained. Thank you
Thank you so much for explaining it in an easy way!
thank you for this!!
In which chapter of FAR this is explained?
Chapter 6!
Can you explain average rate?
Average rate is used for the income statement since it captures activity over a period of time and not a point in time (like the balance sheet). So average rate would be an average of the spot rate across a period of time. Most companies will calculate the average monthly rate using the daily spot rate, and then convert each month of financial results using that average monthly rate.