FAR:Translations vs Transaction (realized vs unrealized) vs Remeasurements

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  • September 24, 2014 at 1:44 am #188877
    morca87
    Member

    I can’t find my answer within the Becker CPA review. Can someone please tell me if unrealized and realized foreign transactions hit the I/S or OCI?

    Remeasurements = I/S

    Translations = OCI

    Foreign Transactions:

    Unrealized = I/S?

    Realized = I/S?

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  • September 24, 2014 at 1:50 am #610067
    Anonymous
    Inactive

    Transactions hit I/S, Translations hit B/S (OCI).

    September 24, 2014 at 1:51 am #610068
    Anonymous
    Inactive

    Trust me on this – for the exam, it is highly unlikely you will have to worry about realized vs unrealized. Just focus on translations go to B/S, transactions go to I/S.

    September 24, 2014 at 1:57 am #610069
    morca87
    Member

    Thank you!

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