The Financial Accounting Standards Board issued Statement 52, Foreign Currency Solution, in December 1981. Also known as Accounting Standard Codification 830, FAS 52 provides guidance on handling ...

The federal government has released draft legislative proposals to implement amendments to the functional currency tax reporting rules. “The proposals I am announcing today will improve the tax system ...

Although the rules on accounting for foreign-currency translations have not changed in many years, mistakes in this area persist. Such mistakes can result in misstatements in financial reporting, ...

IRS tax laws affect traders on foreign exchange markets and U.S. companies conducting business in foreign currencies. When you convert cash from one currency to another and back again, there may be a ...

Enel Chile SA (ENIC) has released an update. Enel Chile S.A. is shifting its functional currency from Chilean pesos to U.S. dollars starting January 1, 2025, due to the significant influence of the ...