Program Description: The objective of the course is to enable participants to comprehend the accounting for foreign currency matters under ASC 830, with a focus on the translation of foreign currency financial statements and the remeasurement of foreign currency transactions. This program utilizes practical examples and case studies from different industries to demonstrate the determination of functional currency and the translation process. It addresses the latest updates, implementation challenges, and disclosure requirements, ensuring participants can confidently apply ASC 830 – Foreign Currency Matters principles in their professional roles. The course also covers in-depth topics such as the distinction between translation and remeasurement, the treatment of translation adjustments in other comprehensive income, and the recognition of foreign currency transaction gains and losses.

Course Coverage:

• Overview of ASC 830
• Determining functional currency and reporting currency
• Translation vs. remeasurement — current rate and temporal methods
• Foreign currency transaction gains and losses and disclosure requirements

Learning Objectives:

• Recognize the principles that govern the accounting for foreign currency transactions and the translation of foreign currency financial statements under ASC 830.
• Distinguish between the functional currency, the local currency, and the reporting currency, and understand the criteria for determining an entity's functional currency.
• Apply the rules to translate foreign currency financial statements using the current rate method and to remeasure financial statements using the temporal method.
• Understand how to account for foreign currency transaction gains and losses and translation adjustments on the financial statements.

Passing Score: 70%

Validity of the course: 1 year from date of enrolment

Available from: August 2025

Available Discount: Group discounts of 10% available for 5 or more participation

Last Updated: August 2025

Program Registration: To register for the program, please visit www.eyvirtualacademy.com and click on Add to Cart to register for the program.

Program Access: The participants will have access to the program for a period of 1 year starting from the date of enrolment.

Keywords: Foreign Currency, Functional Currency, Reporting Currency, Translation, Remeasurement, Current Rate Method, Temporal Method, Translation Adjustments, Other Comprehensive Income, Highly Inflationary Economies, Foreign Currency Transactions, Disclosure Requirements, Financial Statement Presentation, US GAAP, Accounting, Online Learning, CPA, CPE, Certification.

Special Notice:

• Ernst & Young Associates LLP-India is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
• CPE credits will be awarded upon successful completion of the content and passing the exam on securing 70% or above.
• Each Participant has the flexibility to take unlimited attempts to clear the assessment.
• Contact Ernst & Young Associates LLP-India (askeyexpert@in.ey.com) for assistance.

Complaint Policy: For any content related query, you may write to askeyexpert@in.ey.com. For any complaints you may connect with chandra.kargeti@in.ey.com. Escalation: neha.tuteja@in.ey.com

Refund Policy: We do not offer refunds once the participants have accessed any course materials. Course material includes videos, content, quizzes and assessments.