[Silent]

Have anyone seen Conversion Using Translation been tested on FAR and if so is it heavily tested? Seems like a lot of details to remember for something that might not be tested much on.

[Puppykoala]

Nothing is heavily/lightly tested on FAR because FAR ranges far and broad so its hard for the examiners to focus on a small area. If you are not too confident on it, I would say try to understand but move on to other topics. Dont waste time on 1 thing. Govt and NFP can be hard so keep an eye out for them.

[Silent]

Thanks for reply Puppykoala, i am actually comfortable with gov/nfp . I guess will skip this topic and might return to it if i have some extra time.

[CPAHOPE]

Just know this
Translation: converting from functional currency to us dollars, it impacts the OCI account

Remeasurement: currency other than local currency to functional currency, it impacts the net income

[Author]

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