For the final push, I think it is a good idea for everyone to put together a list of everything that we need to know for each of the important LOS covered. This includes concepts, formulas, GAAP vs. IFRS, or any other bits and pieces of information (i.e. shortcuts/computation tricks) that may come in handy. It’ll be helpful to make each point into a numerical bullet point. MULTINATIONAL CORP ANALYSIS primarily covers translation and consolidation. I’ll start off: 1). Loc currency -> Functional currency, remeasure using temporal method 2). Functional currency -> Reporting currency, translate using all-current method 3). If foreign subsidiary operates in a highly inflationary economy (i.e., cumulative inflation of 100% over 3 yrs), use parent’s currency as functional currency, and the temporal method (need to confirm the last part)
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sorry for the confusion. “->” means translate