Foreign currency accounting – Determining functional currency

We kick off our miniseries on foreign currency accounting with an episode on determining functional currency, which is the currency of the primary economic environment in which a distinct and separable operation operates. In this episode, we discuss: 03:52 – Identifying distinct and separable operations19:01 – Determining functional currency25:45 – Common pitfalls in evaluating functional currency 37:37 – Changes in functional currency40:19 – Highly inflationary economiesFor more inform...