Financial Accounting Standards Board $($FASB$)$ Statements $8$ and $52$ relate to the translation methods. The following outlines the objectives and descriptions of the two statements.

$($i$)$ Measure in dollars an enterprise's assets, liabilities, revenues, or expenses that are denominated in a foreign currency according to generally accepted accounting principles

$($ii$)$ Is essentially the temporal method of translation $($with some subtle differences$)$

$($iii$)$ Provide information that is generally compatible with the expected economic effects of a rate change on an enterprise's cash flows and equity

$($iv$)$ Reflect in consolidated statements the financial results and relationships of the individual consolidated entities as measured in their functional currencies in conformity with U$.$S$.$ generally accepted accounting principles