Accounting for foreign currency

KPMG provides guidance on and interpretation of ASC 830. KPMG explains the accounting for foreign currency matters, providing examples and analysis.

Applicability

• Companies that have transactions denominated in a foreign currency
• Companies that have operations in a foreign currency environment

Relevant dates

• Effective immediately

Key impacts

• Provides interpretive guidance on ASC 830, including illustrative examples and Q&As

Report contents

• Functional currency
• Foreign currency transactions
• Translation of foreign currency financial statements
• Foreign currency derivatives and hedging foreign currency risk
• Presentation and disclosures