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What are the different methods allowed under FAS 52 for translation of foreign currency? When...

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Accounting

What are the different methods allowed under FAS 52 for translation of foreign currency? When is each of the methods appropriate? What are the specific requirements for translation of a foreign currency in a hyperinflationary economy? Since currency translation simply involves multiplying or dividing a foreign currency balance by the appropriate exchange rate, why has it become such a controversial topic? Briefly, in two or three sentences, explain why the US dollar was the functional currency in the Offshore Investments Case.

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