Description
This course provides an overview of the functional currency concept and its role in applying the foreign currency guidance in ASC 830. It begins with a discussion of how the functional currency is determined for each foreign subsidiary or operation and the economic factors that should be considered, including cash flows, sales, expenses, financing, and relationships with the parent entity. The course also explains how to evaluate changes in functional currency and how the guidance applies when a foreign operation operates in a highly inflationary economy. Throughout the course, you’ll gain a practical understanding of the judgment involved in determining functional currency and applying the related requirements under ASC 830.
Learning Objectives
Upon completion of this course, you will be able to:
• Identify the role of functional currency under ASC 830
• Determine the functional currency of a foreign subsidiary or operation
• Identify factors used to evaluate and conclude on functional currency
• Recognize the accounting impact of changes in functional currency and highly inflationary economies
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.
A course evaluation form is provided for your feedback, upon course completion. Participants have 1 year from the date of purchase/enrollment to complete this course
Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/