{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/830/30/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"830","topic_title":"Foreign Currency Matters","subtopic":"830-30","subtopic_title":"Translation of Financial Statements","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"830-30-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_D24C86A8-6E92-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">This Subtopic provides guidance for translating <a href=\"/glossary/f/#foreign-currency-statements\" class=\"term\" title=\"Financial statements that employ as the unit of measure a functional currency that is not the reporting currency of the reporting entity.\"><span>foreign currency statements</span></a> that are incorporated in the financial statements of a <a href=\"/glossary/r/#reporting-entity\" class=\"term\" title=\"An entity or group whose financial statements are being referred to. Those financial statements reflect any of the following: The financial statements of one or more foreign operations by combination, consolidation, or equity accounting Foreign currency transactions.\"><span>reporting entity</span></a> by consolidation, combination, or the equity method of accounting. </span></span></div></div>","snippet":"This Subtopic provides guidance for translating foreign currency statements that are incorporated in the financial statements of a reporting entity by consolidation, combination, or the equity method of accounting.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:428c8c6da5318b4b97a7ad681230f29a67046409528f764fc3eea03026d15a10","downloaded_from":"2026-09-10T01:47:11.666Z","last_downloaded_at":"2026-09-10T01:47:11.666Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481811","source_sha256":"62d91b75e4bac17f3063d42fe9ebdf45e8323a0cf071e0a00d17fa65db2cbcb6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3ad6ae7a740f286980efb99b67fa00eeb34ab28513bacfd11a5bc7387da4f426","downloaded_from":"2026-09-10T01:47:11.666Z","last_downloaded_at":"2026-09-10T01:47:11.666Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481811","source_sha256":"62d91b75e4bac17f3063d42fe9ebdf45e8323a0cf071e0a00d17fa65db2cbcb6"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b0fc49fcd55e8d5d7010fb58f10aeb6f27a7b7aa4d16d2e1d35e9a54b7c8c8d","downloaded_from":"2026-09-10T01:47:11.666Z","last_downloaded_at":"2026-09-10T01:47:11.666Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481811","source_sha256":"62d91b75e4bac17f3063d42fe9ebdf45e8323a0cf071e0a00d17fa65db2cbcb6"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7b0fc49fcd55e8d5d7010fb58f10aeb6f27a7b7aa4d16d2e1d35e9a54b7c8c8d","downloaded_from":"2026-09-10T01:47:11.666Z","last_downloaded_at":"2026-09-10T01:47:11.666Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147481811","source_sha256":"62d91b75e4bac17f3063d42fe9ebdf45e8323a0cf071e0a00d17fa65db2cbcb6"}}