Fasb no. 52

• The U.S. accounting standard which was replaced by FASB No. 8. U.S. companies are required to translate foreign accounts by the current rate and report the changes from currency fluctuations in a cumulative translation adjustment account in the equity section of the balance sheet.

• Statement issued by the FASB requiring U.S. multinationals first to convert the financial statement accounts of foreign subsidiaries into their functional currency and then to translate the accounts into the parent firm's currency using the all-current-rate method.

 Embedded terms in definition
 Balance sheet
Cumulative translation adjustment
Fasb no. 8
Financial statement
Functional currency
 Related Terms
 52 week hi/low prices
Fasb no. 8
Series 52
Statement of financial accounting standards no. 52
Statement of financial accounting standards no. 8

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