FASB No. 8

Definition:

U.S. accounting standard that requires US firms to translate their foreign affiliates' accounts by the temporal method; that is, reporting gains and losses from currency fluctuations in current income. It was in effect between 1975 and 1981 and became the most controversial accounting standard in the US. It was replaced by FASB No. 52 in 1981.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Funding

Used to describe the refinancing of a debt prior to its maturity (the same as refunding). In corporate finance refers to the floating of bonds to raise finance and levels of capital. See also:... Read More

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