Advanced Accounting Discussion Post: "Translation of Foreign Currency Financial Statements"
1) Analyze the fundamental differences between remeasurement and the translation approach when preparing a foreign currency financial statement for a company of your choice. Next, determine one to two situations when remeasurement is most appropriate. Provide support for your position.
2) Analyze the underlying conceptual differences between the temporal method of translation and the current rate method of translation. Determine how the balance sheet exposure differs under the two aforementioned methods. Select the method that you believe provides the least balance sheet exposure. Provide rationale for your selection.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.