CruMan is run by a president with amazing entrepreneurial instincts and formidable negotiation skills; though sometimes without understand of the unintend consequences of decisions. That's why you're here. Early in the current year CruMan, a USA corporation, acquired a majority stake in NorthMan, a Canadian company. It is CruMan's intent to allow NorthMan to operate dividends quarterly. Additionally, CruMan ordered a large machine from a German manufacturer. The German firm demands payment in Euros. Lead time from contract signing to machine delivery four months which will span the end of a fiscal year. CruMan paid 50% in advance. of considerations and procedures required to prepare accurate financial reports. List your considerations when preparing consolidated financial statements. In your answer discuss the proper use of exchange rates, realized and unrealized foreign currently gains and losses, exchange rate risk when entering contracts, and how hedging can be used to mitigate the risk of working in multiple currencies. CruMan is run by a president with amazing entrepreneurial instincts and formidable negotiation skills; though sometimes without understand of the unintend consequences of decisions. That's why you're here. Early in the current year CruMan, a USA corporation, acquired a majority stake in NorthMan, a Canadian company. It is CruMan's intent to allow NorthMan to operate dividends quarterly. Additionally, CruMan ordered a large machine from a German manufacturer. The German firm demands payment in Euros. Lead time from contract signing to machine delivery four months which will span the end of a fiscal year. CruMan paid 50% in advance. of considerations and procedures required to prepare accurate financial reports. List your considerations when preparing consolidated financial statements. In your answer discuss the proper use of exchange rates, realized and unrealized foreign currently gains and losses, exchange rate risk when entering contracts, and how hedging can be used to mitigate the risk of working in multiple currencies