Hello, I completed this assignment already and I didn’t want to plagiarize myself so I was wondering if you could help me rephrase it and give me a Turnitin report. If possible, let me know if I need to add anything additional, I will do once I get everything done. Here are the instructions:
You should refer to the FASB Accounting Standards
Codification (FASB ASC), specifically, when answering some of the questions
below:
1.
Under what circumstance(s) would the
amount included in the foreign currency translation account be recorded in the
Income Statement instead of the Statement of Other Comprehensive Income?
2.
Under what circumstance(s) would it
potentially make sense for a Company to consider hedging the amount included in
the Statement of Other Comprehensive Income for Foreign Currency Translation?
Be specific.
3.
Explain in a few sentences how the
accounting for foreign currency translation differs for subsidiaries of a US
Parent Company operating in a hyperinflationary environment which are
consolidated into the Parent Company’s financial statements.
4.
For the accumulated foreign currency
translation balance which your Assignment in Connect arrived at, is the amount
of the translation adjustment in the current year a debit or a credit, and what
does that mean with regards to the movement of foreign exchange during the
period against the US Dollar? Be specific.
Requirements:
·
Write a paper of 2-3 pages double-spaced
in length, not counting the title and the reference page(s) and any Exhibit(s)
or Appendices. Submissions in excess of 3 pages are acceptable.
·
Use terms, evidence, and concepts from
the Module interactive lecture and readings, including professional business
language.
·
Cite at least 3 credible, academic or
professional sources for this assignment.