UK GAAP - Foreign Currency Translation

This module forms part of Mercia's UK GAAP Library, and covers an in-depth look at the requirements of Section 30 that sets out how an entity determines its functional currency and how to represent transactions in foreign currencies in its financial statements.

Course outline:

This module is available as part of the UK GAAP Library or can be booked as an individual course.

An in-depth look at the requirements of Section 30 that sets out how an entity determines its functional currency and how to represent transactions in foreign currencies in its financial statements.

This course covers:

  • Scope and Definitions
  • Functional Currency
  • Translation of Foreign Currency Transactions
  • Translation to a Presentation Currency
  • Translation of a Foreign Operation
  • Net Investment in a Foreign Operation
  • Statement of Cashflows (Section 7) – Impact of Foreign Currency
  • Foreign Currency Transactions and Advance Consideration

CPD Hours: 1

 

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Course formats and dates

 

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