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ASC 830 (FAS 52) FX Intermediate
April 21, 2016 @ 9:00 am PDT - 11:30 am PDT$300
Intermediate Workshop to Foreign Currency Accounting for Transactions Workshop
Understanding how FX transactions and decisions impact your financial statements and troubleshooting FX gains & losses. 2.5 CPE hours.
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This workshop goes beyond the basics of ASC 830 (FAS 52) with valuable, practical examples to enhance your technical depth and breadth. Participants are assumed to have a basic understanding of ASC 830 terminology, functional currency concepts, and accounting for basic foreign currency transactions.
This workshop covers:
- Remeasurement and Translation – Participants will perform practical exercises to remeasure and translate foreign denominated financial statements
- Common Problems with Foreign Currency Accounting – Learn to identify and resolve ongoing problems associated with foreign currency denominated transactions including: foreign currency accruals, gains and losses on closed transactions and mismatches in consolidation.
- Reconciling a “Hedged” Foreign Exchange Gain/Loss Line – Learn the benefits of explaining, techniques for finding, and calculations associated with the causes of ineffectiveness in a balance sheet hedging program.
- Impact of Local Currency Functional Subsidiaries- Review how functional currency decisions impact a company’s ability to hedge and perceive its exposures. Discuss how non-monetary balances located on foreign functional financials react to changes in exchange rates.
After the class, participants will be able to understand and address ASC 830 foreign exchange gains and losses that result from foreign currency transactions and translation. You will be able to provide management with useful explanations and identify key sources of foreign currency gains and losses resulting from a company’s balance sheet hedging program.
Lastly, participants will be able to evaluate the potential impact functional currency decisions may have on their company and will have the basis necessary to understand and attend Hedge Trackers ASC 830 (FAS 52) – Advanced Workshop.
Delivery Method: Group-Live
Program Level: Advanced
Prerequisites: None (ASC 830 (FAS 52) FX Intro course recommended)
Advanced Preparation: None
Field of Study: Accounting
CPE Hours: 2.5
Continental breakfast will be served at 8:30 a.m. For more information regarding refund, concerns and program cancellation policies, please contact our offices at 408-350-8580.