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Chapter 2 — Glossary of Selected Terms

2.15 Foreign Entity

2.15 Foreign Entity

ASC 810-10 — Glossary
Foreign Entity
An operation (for example, subsidiary, division, branch, joint venture, and so forth) whose financial statements are both:
  1. Prepared in a currency other than the reporting currency of the reporting entity
  2. Combined or consolidated with or accounted for on the equity basis in the financial statements of the reporting entity.