Foreign Currency Accounting

3 Credits: Accounting


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Foreign Currency Accounting

Course Level
CPE Credits

3 Credits: Accounting

Course Description

This course discusses the process of translating financial statements from foreign currency into U.S. dollars. It also covers the accounting and reporting of foreign currency transactions. You’ll learn about 1) forward contracts, which are used for hedging or speculative purposes; 2) what’s involved in the sale or liquidation of an investment in a foreign entity; and 3) the tax impact related to foreign currency dealings. Footnote disclosures, which are necessary so readers can properly appraise a company’s exposure in overseas operations to variability in foreign exchange rates, are also explained.
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Learning Objectives

Upon completion of the course, participants will be able to:

•Identify the different risks associated with foreign currency and exchange rates

•Cite the factors affecting the selection of a company’s functional currency

•Identify how different foreign currency transactions should to be reported

•Define the terminology used in foreign currency transactions.

•Identify the requirements and objectives for remeasurement and translation.

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Course Specifics

Course ID
Revision Date
September 29, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

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

For many years, Delta CPE LLC has offered a wide variety of continuing education courses for financial professionals. Topics covered by Delta’s courses include accounting, financial management, budgeting, investments, financial statement reporting, business management, IFRS, ethics, valuations, real estate, and business writing. The diversity and breadth of Delta’s course offerings make the company a prolific and unique contributor to the CPE world. Delta’s well-credentialed authors and contributors have also been published in numerous academic and professional journals and quoted by some of the leading financial media outlets.