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This draft Opinion deals with some aspects of accounting for translation adjustments arising from the application of the monetary/nonmonetary approach to the translation of foreign currency assets and liabilities. Among other things it proposes that certain debit and credit translation adjustments should be deferred while others should be carried immediately to income.
Foreign exchange -- Accounting
Accounting | Taxation
American Institute of Certified Public Accountants. Accounting Principles Board, "Proposed APB opinion : Translating foreign operations;Translating foreign operations; Exposure draft (American Institute of Certified Public Accountants), 1971, Dec. 20" (1971). Statements of Position. 343.