DISCUSSION
Using the U.S. Security and Exchange Commission's EDGAR database, select and research a company with foreign subsidiaries. To minimize the chances of classmates selecting the same company, select one that begins with the same letter as your first or last name.
Look in the notes related to foreign currency transaction and report what the company's policy is. Based on the review of the financial statement, determine whether the company has translated (using the current rate method) or remeasured (using the temporal method).
Lastly, explain the footnote disclosures that were provided in the financial statement that are related to foreign currency transactions. These disclosures will state how the company handles foreign currency transactions.
In response to your peers, discuss the differences noted in how your company handles consolidating foreign subsidiaries and reporting foreign currency transactions. Speculate as to why there are differences based on what you have researched about your company and what your classmates have posted about their companies.