United States

ASU 2013-05: Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity

Jan 19, 2014
From Financial Reporting View

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This podcast provides a high level summary of ASU 2013-05, which addresses the parent's accounting for the cumulative translation adjustment (CTA) upon derecognition of certain subsidiaries or groups of assets within a foreign entity or an investment in a foreign entity.

This podcast also discusses the accounting for CTA upon partial sale of an equity method investment that is a foreign entity and the accounting for CTA upon obtaining control of a business achieved in stages (step acquisitions).