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FASB Codification section related to ASC830 provides the accounting and reporting requirements for foreign currency transactions and the translation for their financial statements from a

FASB Codification section related to ASC830 provides the accounting and reporting requirements for foreign currency transactions and the translation for their financial statements from a foreign currency to a reporting currency (EisnerAmper, 2022). This can determine the correct exchange rate to be used in converting the financial statements from the foreign currency to our US dollar. These rates measure their assets and liabilities.

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