ASC 830-230-55-1: Foreign Currency Matters-Statement of Cash Flows- Implementation Guidelines and Illustrations
ASC 830-230-55-1 Provides us illustrative guidance on statement of cash flow of an entity which either have operations in foreign domicile or conduct transactions in foreign currency. Such Entity shall report the reporting currency equivalent of foreign currency cash flows using exchange rates at the time of initiation of concerned cash flow. The entity may use weighted average of exchange rates for translation if the outcome is same as if the rates at the dates of the cash flow were used. For the purpose of reconciliation of change in cash and cash equivalents, entity, in the statement of cash ...
