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What was the most significant ramifications of FASB 8 and FASB 52 on U.S. business and...

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Finance

What was the most significant ramifications of FASB 8 and FASB52 on U.S. business and accounting firms?

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Before we discuss about ramifications of FASB 8 and FASB 52 on US business and accounting firms let me explain you the concept of foreign currency translation In simple language currency translation is an accounting method by which an internationalmultinational company reports the results of its subsidiary firms operating outside of their home country by converting their results ie profitloss etc from foreign currency to the reporting currency of the parent company In FASB 8 it was said that the gains and losses    See Answer
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What was the most significant ramifications of FASB 8 and FASB52 on U.S. business and accounting firms?

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