FASB No. 52

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. The New York Times Financial Glossary

Financial and business terms. 2012.

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  • FASB No. 8 — U.S. accounting standard that requires U.S. firms to translate their foreign affiliates accounts by the temporal method. Gains and losses from currency fluctuations were reported in current income. It was in effect between 1975 and 1981 and… …   Financial and business terms

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  • FASB — Financial Accounting Standards Board (Business » Accounting) …   Abbreviations dictionary

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