Foreign Currency Accounting (ASC 830)
Overview
Learning Objectives
Through practical exercises and examples that lay the foundation for real-world familiarity and success, participants will learn how to determine functional currency while gaining a thorough understanding of Foreign Currency Accounting (ASC 830), including its objectives, purpose, disclosure requirements and critical definitions. After completing this session you will be able to:
- Recognize the measurement methods and current cost determination, and the classification of the balance sheet into monetary and non-monetary items under ASC 255
- Define and recognize the critical terms used in ASC 830
- Recognize the proper accounting treatment under the following methods:
- Translation (Current) method
- Remeasurement (Temporal) method
- Calculate translation gains and losses
- Recognize the disclosure requirements under ASC 830
- Recognize the proper accounting and reporting for foreign currency transactions
Details
- Field of Study
- Accounting
- Credits
- 2 Credits
- Provider
- Becker Professional Education
- Knowledge Level
- Overview
- Advanced Preparation
None
- Course ID
- 140/153
- Publication Date
- 10/31/2026
- Planned Expiration
- 05/31/2028
- Prerequisites
None
Instructor
Timothy F. Gearty CPA, MBA, JD, CGMA
Tim Gearty is the National Director and Editor-in-Chief for the world’s largest CPA training program, Becker CPA Review. In addition to his editorial leadership, Tim is also Becker's National Lead Instructor, whose taped lectures are seen in over 325 locations throughout the world. Tim is a nationally recognized expert and speaker on a variety of accounting and tax topics, and has appeared as keynote speaker for several Fortune 100 companies as well as many national associations. He has frequently been called upon over the past twenty years to present accounting and tax topics to large groups, organizations, and corporations, accounting firms and in legal proceedings. Tim is a partner in Gearty & McIntyre, LLP, CPA, a firm which has developed a reputation as a specialist in business advisory services, litigation support and forensic accounting. He is a member of the American Institute of Certified Public Accountants and the New Jersey Society of Public Accountants as well as a trustee of that organization. He holds a BS in Accounting from Fairleigh Dickinson University, and both a MBA in Finance and Law Degree (JD) from Seton Hall University. Tim is a member of the New Jersey and American Bar Associations.
Accreditations
- 1 year course access
- NASBA-approved content
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