Practical, effective training led by Hedge Trackers consultants and
delivered in a friendly, small-group environment at our Cupertino, CA
offices. This environment allows us not only to better transfer knowledge
to the attendees, but also to focus on their specific challenges and
issues.
Another benefit of our interactive, workshop approach is that it fosters peer networking, and relationships are built around the table that will extend and enhance our guests' technical and professional capabilities.
Each course is half-day and earns 4 CPE credits. To ensure we are able
to maximize the value for each attendee we are limiting class size,
so please register as early as possible. As classes fill we will provide
alternative dates to accommodate all registrations.
ASC 830 (FAS 52) -- A Hands-On Workshop
Registration:
FAS 52: Foreign Currency Translation was issued in 1981 and subsequently incorporated into Accounting Standards Codification 830: Foreign Currency Matters in 2009. ASC 830 outlines the objectives and guidelines for foreign currency translation to ensure the company's consolidated financials reflect the expected economic effects of a rate change on a company's cash flows and equity. This half-day course will begin by reviewing foreign currency terminology, functional currency concepts, and foreign currency exposure types. Next the course will cover a two-step review: (1) We will examine how changes in non-local or non-functional currency transactions affect earnings and (2) we will review ASC 830 guidance for capturing the equity effects of non-US-dollar functional entities for reporting consolidated results.
- Using practical examples, we will illustrate how a company's functional currency elections affect the remeasurement and translation of monetary and non-monetary accounts and perform proofs to show the net impact of the cycle. We will review common ASC 830 ERP implementation and application issues.
- Next, we will discuss the impact of foreign currency exposures on the FX gain/loss line in both earnings and equity. We will provide participants with troubleshooting tips and a checklist approach so that they can track down and understand - and explain to management - what is driving the "noise" in the FX G/L line.
After the class, participants will be able to understand the ASC 830 cycle and reconcile FX gains and losses that result from foreign currency transactions and translation. The class provides valuable tools to troubleshoot the results should an unexplained outcome arise and participants leave the training with an annotated workbook, a critical reference document for the future.
