a.i. Cash+ Receivables < PayablesNet Liability exposure
b. Temporal Method
b.i. Objective is to produce a set of parent currency translated financial
statements as if the foreign subsidiary had actually used the parent
currency in conducting operations
a.i. Temporal method- requires the foreign currency cost and foreign
currency market value of the inventory to be translated into parent
currency at appropriate exchange rates, and the lower of the parent
currency cost or the parent currency market value
Ch. 8 Translation of Foreign Currency Financial Statements
Two Conceptual Issues
a. What is the appropriate exchange rate for each financial statement item?
b. How should the translation adjustment be reflected in the consolidated
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