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Preface

Preface

Preface

We are pleased to present the 2023 edition of Foreign Currency Matters. This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance under ASC 830.1 While the guidance in ASC 830 has not changed significantly over the years, the application of the existing framework has continued to evolve as a result of the increasing interdependence and complexity of international economies and companies’ legal structures.
Each chapter of this publication typically starts with a brief introduction and includes excerpts from ASC 830, Deloitte’s interpretations of those excerpts, and examples to illustrate the relevant guidance. This publication also addresses relevant SEC considerations and highlights from the meetings of the AICPA SEC Regulations Committee’s International Practices Task Force (highlighted by “SEC Considerations” icons). In addition, the Roadmap identifies pending content from recently issued ASUs. Readers should refer to the transition guidance in the relevant ASU to determine the effective date(s) of the pending guidance. Appendix D discusses significant changes made since the issuance of the 2022 edition of this publication.
Be sure to check out On the Radar (also available as a stand-alone publication), which briefly summarizes emerging issues and trends related to the accounting and financial reporting topics addressed in the Roadmap.
Note that this Roadmap is not a substitute for the exercise of professional judgment, which is often essential to applying the requirements of ASC 830. It is also not a substitute for consulting with Deloitte professionals on complex accounting questions and transactions.
We hope that you find this publication a valuable resource when considering the accounting guidance on foreign currency matters.

Footnotes

1
For a list of abbreviations used in this publication, see Appendix C. For the full titles of standards, topics, and regulations used in this publication, see Appendix B.