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KMID : 0615219970220010023
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Journal of Kwangju Health
1997 Volume.22 No. 1 p.23 ~ p.42
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A Study on the accounting Disposal of Foreign Currency Translation
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정태종/Jung TJ
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Abstract
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Today international managerial activity of enterprise requires financial report and financial statements is accounting information useful for decision making of foreign interest groups. Therefore, every procedure of accounting proposal is necessary for the translation of account and financial statements expressed by foreign currency. Moreover, as overseas trade is enlarged and multinational enterprise grows, foreign investors establish branch office and subordinate company in foreign country and operate their managerial activity, which results in putting interest on international accounting business and problems, such as remittance and bill collection in connection with the exchange of foreign currency.
In case of translating account subject and amount of money expressed by foreign currency, the concept and standard of accounting between countries should be unified, the unification of which depends on whether subsequent method of accounting disposal is expressed in the course of announcing financial statements publically.
Most countries is putting importance on the usefulness of accounting information by historic cost under postulates of stabilization of money value. Therefore, the adherence of traditional cost basics and amendment of financial statements according to price index is thought to be desirable methods for the solution of problem.
In our country, research and achievement on accounting disposal is insurficient and the contents of its regulation is fragmental as well. The fluctuation of foreign currency exchange rate is also wider in scale than external money value of stable countries.
In consideration of such given conditions, our country should strive to study the standard and method of valuation, and accounting disposal method of profit and loss by foreign currency exchange rate etc. concretely and comprehensively.
In short, this study is substantially considered on accounting disposal of foreign currency translation and is discussed on the method of every kind of foreign currency translation of financial statements.
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KEYWORD
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