Abstract
The subject of this chapter is foreign currency translation, that is how to account for items denominated in a foreign currency. This topic has been selected not only because it provides particularly interesting insights into how the rules that govern financial reporting are developed but also because it is an important topic in its own right. The remarkable growth in foreign trade and investment in recent decades has led to an equivalent increase in the size of items in accounts that are denominated in foreign currency. This is particularly the case with the larger multinational enterprises, for whom the choice of method for the reporting of foreign currency items can have a most significant effect on the numbers that they report for assets, liabilities and profits.
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© 2002 John Flower
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Flower, J., Ebbers, G. (2002). Foreign Currency Translation. In: Global Financial Reporting. Palgrave, London. https://doi.org/10.1007/978-1-137-10538-7_21
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DOI: https://doi.org/10.1007/978-1-137-10538-7_21
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-79477-7
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