Foreign Currency Translation Definition Methods Adjustments
What is Foreign Currency Translation? Explanation In the present world, many companies operate in different areas of the world, having different currencies, but to present a better picture of the company financial statementCompany Financial StatementFinancial statements are written reports prepared by a company’s management to present the company’s financial affairs over a given period (quarter, six monthly or yearly). These statements, which include the Balance Sheet, Income Statement, Cash Flows, and Shareholders Equity Statement, must be prepared in accordance with prescribed and standardized accounting standards to ensure uniformity in reporting at all levels....