publication . Article . Preprint . 2005

Translation of Financial Statements

Dalthan Simas; Otavio De Medeiros;
Restricted
  • Published: 16 Mar 2005 Journal: SSRN Electronic Journal (eissn: 1556-5068, Copyright policy)
  • Publisher: Elsevier BV
Abstract
This paper has the purpose of surveying and critically analyzing the effects of accounting procedures which are closely related to groups of companies operating multinationally. These are the methods for translation of financial statements, e.g. the Temporal and the Closing- rate Methods, as far as those methods are embodied in accounting standards which have been either recommended or adopted by countries such as the UK and US. We conclude that with regard to changing prices, General Price Level Accounting is the best option. As for exchange rate fluctuations, the Closing Rate Method should be preferred over the Temporal Method, the order being owed to the grea...
Subjects
free text keywords: financial statements, translation, international accounting, exchange rate, Financial accounting, business.industry, business, Financial ratio, Actuarial science, Economics, Accounting, Accounting information system, Accounting standard, Positive accounting, medicine.medical_specialty, medicine, Throughput accounting, Mark-to-market accounting, Finance, Generally Accepted Accounting Principles (United States), jel:G
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