TAILIEUCHUNG - Ebook Advanced accounting (12th edition): Part 2 - Joe B. Hoyle, Thomas F. Schaefer, Timothy S. Doupnik

(BQ) Part 2 book "Advanced accounting" has contents: Translation of foreign currency financial statements; worldwide accounting diversity and international standards; financial reporting and the securities and exchange commission; accounting for legal reorganizations and liquidations;.and other contents. | Foreign Currency Transactions and Hedging Foreign Exchange Risk chapter 9 Learning Objectives oday, international business transactions are a regular occur- After studying this chapter, you should be able to: rence. In its 2012 annual report, Lockheed Martin Corporation LO 9-1 Understand concepts related to foreign currency, exchange rates, and foreign exchange risk. LO 9-2 Account for foreign currency transactions using the twotransaction perspective, accrual approach. LO 9-3 Understand how foreign currency forward contracts and foreign currency options can be used to hedge foreign exchange risk. LO 9-4 Account for forward contracts and options used as hedges of foreign currency denominated assets and liabilities. LO 9-5 Account for forward contracts and options used as hedges of foreign currency firm commitments. LO 9-6 Account for forward contracts and options used as hedges of forecasted foreign currency transactions. LO 9-7 Prepare journal entries to account for foreign currency borrowings. T reported export sales of $ billion, representing 17 percent of total sales. Even small businesses are significantly involved in transactions occurring throughout the world as evidenced by this excerpt from Cirrus Logic, Inc.’s 2012 annual report: “Export sales, principally to Asia, include sales to customers with overseas manufacturing plants or manufacturing sub-contractors. These export sales represented 88 percent, 82 percent, and 79 percent of our net sales in fiscal years 2012, 2011, and 2010, respectively.” Collections from export sales or payments for imported items might be made not in . dollars but in pesos, pounds, yen, and the like depending on the negotiated terms of the transaction. As the foreign currency exchange rates fluctuate, so does the . dollar value of these export sales and import purchases. Companies often find it necessary to engage in some form of hedging activity to reduce losses arising from fluctuating

• Kế toán - Kiểm toán
• Advanced accounting
• Foreign currency financial statements
• Financial statements
• Accounting diversity
• International standards
• Exchange commission
• Lecture Advanced accounting
• Advanced financial accounting
• Equity method of accounting
• Accounting valuation
• International accounting diversity
• Accounting for legal reorganizations
• Accounting for state
• Accounting for leases
• Accounting for estates
• Investment accounting
• Consolidation of financial information
• Consolidated financial statements
• Intra entity asset transactions
• Variable interest entities
• Income taxes
• Interim reporting
• Foreign currency transactions
• Partnership advantages
• Statement of liquidation