Price range: $58.00 through $78.00
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Secure Transaction CPE Credits
2 Credits: Accounting
Course Level
Overview
Format
Self-Study
Course Description
This course provides an overview of the foreign currency accounting and reporting guidance in ASC 830. It begins by explaining how to determine the functional currency of a foreign operation and the factors management should consider when making that assessment. The course then discusses the accounting for foreign currency transactions, including initial measurement, transaction gains and losses, and the use of exchange rates in practice. Finally, it covers the translation of foreign financial statements into the reporting currency, including translation adjustments, presentation in other comprehensive income, and related disclosure requirements.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the role of functional currency under ASC 830
- Determine the functional currency of a foreign subsidiary or operation
- Identify factors used to evaluate and conclude on functional currency
- Recognize the accounting impact of changes in functional currency and highly inflationary economies
- Identify the accounting requirements for foreign currency transactions
- Determine the appropriate exchange rates for foreign currency transactions
- Recognize how exchange rate changes create transaction gains and losses
- Distinguish between transaction gains and losses and translation adjustments
- Determine the reporting requirements for cumulative translation adjustments
Course Specifics
SS126485682
August 3, 2026
There are no prerequisites.
None
52
Compliance Information
CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
Meet The Experts
Kelen is a recognized author and reviewer of CPE courses and has authored over 230 courses (570+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple-choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”. Kelen has over 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP. Prior to HP, he served in …
QAS Self-Study
