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ASC 830 (FAS 52) FX Intermediate – Intermediate Accounting for Foreign Currency Workshop
September 7, 2016 @ 9:00 am PDT - 11:30 am PDT$300
This workshop goes beyond the basics of ASC 830 (FAS 52) and adds valuable, practical examples to your foreign currency accounting tool kit. 2.5 CPE hours.
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Participants are assumed to have a basic understanding of ASC 830 terminology, functional currency concepts, and accounting for basic foreign currency transactions prior to taking this class.
This workshop covers:
– Remeasurement and Translation: Participants will perform practical exercises to re-measure 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.
Delivery Method: Group-Internet Based
Program Level: Advanced
Prerequisites: ASC 830 (FAS 52) FX Intro course recommended
Advanced Preparation: None
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