Under FAS 52, it may be necessary in some cases to use the translation process and then the remeasurement process for a specific foreign unit.

Question

Quizplus · Accepted Answer

Under FAS 52, the translation process and the remeasurement process are alternative methods for converting foreign currency financial statements into the reporting currency. A specific foreign entity's financial statements would typically be subjected to either translation or remeasurement, not both sequentially.

Under FAS 52, It May Be Necessary in Some Cases