I’ll start with my first one:
I walk into a store in Germany. Its Local and Functional currencies are the same: the Euro. The signs are also in German. I ask for “Translation, please?” I get a response: “The Current Rate is … Dollars per Euro”.
Ethics standards
§rofessionalism, (I)ntegrity, (d)uties, (d)uties, investment, conflicts, responsibilities
§ussy (i)n (d)a (d)ick (i)s ©ool ®wanda or pussy in da dick is called romance
you wont forget that
I’m remembering some multinational operations by the placement of letters.
(S)ame , then (T)emporal
(D)ifferent , then ©urrent
(S,T) and (C,D) are next to each other in the alphabet.
(T)emporal --> (U)S GAAP
©urrent --> (I)FRS
Again, (T,U) and less neatly (C,I).
(B)alance sheet --> ©urrent method
(B,C) well once I remember this, I can remember temporal adjustments must then be made in the income statement.
Also, Pierre, that would be quite the trick. Think you’ve got your naughty bits switched up, pretty sure it doesn’t work that way.
LOL
this is awesome. I’ll definitely remember pussy in da dick is called romance LOL
but i think it should be the other way round da dick in pussy because how can pussy in da dick LOL
At this rate, looks like there will need to be a Level 2.5 exam as a filler between L2 and L3. Just to test you on your skills of acronyms and conotations.
Roe is my pal.
ROE = §rofit Margin x (A)sset Turnover x (L)everage
I think there is an easier way to remember current vs temporal.
If they use the reporting currency as the functional currency they they are making conversions all the time hence temporal method.
If they functional currency is different that your reporting currency then they are making one conversion at the end of year current rate.
on that note Stable growth rate = ®etention ratio x PAL
®oe is my PAL
I’ve never been a big “gimmicky memorizer” or whatever you’d call this method… but “Up the Bid and Multiply / Down the Ask and Divide” is great