January 2018
Beginner
976 pages
142h 14m
English
book
Principles of Managerial Finance, 15th Edition
by Scott B. Smart, Chad J. Zutter, Lawrence J. Gitman
Content preview from Principles of Managerial Finance, 15th Edition
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19.2 Financial Statements
LG2
Several features differentiate internationally based reports from domestically oriented financial statements. Among them are the issues of foreign subsidiary characterization, the functional currency approach of U.S. MNCs, and the translation of individual accounts.
Subsidiary Characterization and Functional Currency
For a multinational company based outside the United States, its foreign subsidiaries’ type of operations will determine the translation method the firm will use. For U.S.-based MNCs, the determining factor is the functional currency of each subsidiary. Table 19.2 provides further details on these points.
Table 19.2
Subsidiary/Currency Operations and Translation Method
| Type of operation | Translation ... |
|---|
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