Tutorvo
Menu
Courses Guides Pricing Log in Sign up
Accounting Advanced

Foreign Currency Accounting: Transactions, Remeasurement & Translation (IAS 21 / ASC 830)

Functional currency, transactions at spot, realised and unrealised exchange differences, monetary vs non-monetary items, translating a subsidiary, the CTA roll-forward and average vs actual rates: 8 labs on one optics group.

8 lessons 8 labs 2.1 h Certificate

  • One-time payment
  • 14-day money-back guarantee
  • Secure checkout with Stripe

What you'll build

What you will be able to do

Each lab ends with a concrete result that you build yourself and the checker confirms, cell by cell.

  • Weigh eight indicators for Kestrel's Dutch subsidiary, conclude on its functional currency and name the method that brings its statements into the group's USD.
  • Convert five invoices in euros, pounds, yen and francs into USD, watch the direction of each quote and record the journal.
  • Settle four invoices from lab 2 at new rates, calculate each realised gain or loss with the right sign and journal two settlements.
  • Retranslate five open monetary items at the 31 Dec closing rate, find each unrealised gain or loss and record the year-end entries.
  • Decide which balances are retranslated and which keep their historical rate, translate them, and test the euro inventory for a write-down the right way.
  • Translate the EUR income statement and balance sheet of Kestrel Optics Europe into USD and find the translation reserve that makes the balance sheet balance.
  • Explain the year's translation difference of Kestrel Optics Europe in three pieces, roll the reserve forward and show the walk in a waterfall chart.
  • Translate Kestrel Optics Europe's monthly revenue at each month's rate and at one annual average, measure the gap and chart the euro through the year.

About this course

Exchange rates affect accounts in two quite different ways, and confusing them is a common exam and reporting error. You begin by weighing indicators to decide a functional currency and how it differs from presentation currency. Purchases and sales are recorded at the spot rate, settlement creates realised exchange differences, and year-end retranslation of monetary items creates unrealised ones. Non-monetary items stay at historical rates, including the trap with net realisable value. You then translate a foreign subsidiary with closing, average and historical rates, build the translation reserve and roll it forward, and test when an average rate is a good enough shortcut. For accounting students, exam candidates and group reporting staff, following IAS 21 and ASC 830 concepts.

Curriculum

Course content

8 lessons · 8 labs · 2.1 h · final exam

  1. Functional vs Presentation Currency: Weighing the IndicatorsLab14 min4 checked tasks
    Unlocked when you buy the course
  2. Recording Foreign-Currency Purchases and Sales at the Spot RateLab15 min4 checked tasks
    Unlocked when you buy the course
  3. Settlement: Realised Exchange Gains and LossesLab16 min4 checked tasks
    Unlocked when you buy the course
  4. Year-End Retranslation of Monetary Items: Unrealised Gains and LossesLab16 min4 checked tasks
    Unlocked when you buy the course
  5. Non-Monetary Items at the Historical Rate (and the NRV Trap)Lab15 min4 checked tasks
    Unlocked when you buy the course
  6. Translating a Foreign Subsidiary: Closing, Average and Historical RatesLab18 min4 checked tasks
    Unlocked when you buy the course
  7. The Translation Reserve (CTA): Where It Comes From and How It Rolls ForwardLab16 min4 checked tasks
    Unlocked when you buy the course
  8. Average Rate vs Actual Rates: When Is the Shortcut Good Enough?Lab16 min4 checked tasks
    Unlocked when you buy the course
  9. Final exam12 questions, 75% to pass, unlimited retries.

Certificate

Finish with a certificate you can verify

Complete every lesson and pass the final exam to receive a certificate of completion for this course, with a unique credential ID and a public verification page.

  • Names the course, your score and the date of issue
  • A verification link for your CV or LinkedIn profile
  • 12 questions, 75% to pass, unlimited retries.

A Tutorvo certificate confirms that you completed a course. It is not an official or professional qualification.

Illustration. Your certificate shows your own name, course and credential ID.

Before you buy

Questions about this course

Is this a subscription?

No. You pay $9.99 once for this course. There is no subscription and nothing renews automatically. Prices are in US dollars; taxes may be added where required.

What exactly do I get?

All lessons and labs of this course, the final exam and the certificate, including later updates to the course, for as long as Tutorvo offers it. Access is personal and tied to your account.

Can I get a refund?

Yes. If you are not satisfied, email hello@tutorvo.com within 14 days of buying and we refund the course in full via Stripe. The guarantee does not apply once a certificate for the course has been issued to you, or where there are signs of abuse.

When can I start?

Right after payment. Access starts immediately at your request; for consumers in the EU/EEA the statutory right of withdrawal therefore ends once access has begun, while our 14-day money-back guarantee applies regardless.

Do I need Excel or other software?

No. The labs run in a spreadsheet inside your browser on a laptop, tablet or phone. Function names and syntax follow Excel.

Is the certificate an official qualification?

No. It confirms that you completed all lessons of the course and passed its final exam. It is not an official, state-recognised or professional qualification. The name is taken from your profile when the certificate is issued.

Full details are in our Terms · hello@tutorvo.com

Browse all Accounting courses →
$9.99one-time payment
Buy course