Foreign Currency Accounting and Financial Statement Presentation for Investment Companies — SOP 93-4 [Download]

Statement of Position (SOP) 93-4 amends the AICPA Audit and Accounting Guide Audits of Investment Companies to require reporting of all foreign currency transaction gains and losses other than those related to investments.
 
Now, here's your chance to fine tune your foreign currency accounting and reporting. This SOP provides CPAs guidance on the calculation and reporting of realized and unrealized foreign currency gains and losses in the financial statements and footnotes. It gives expert perspective on measuring and reporting of unrealized and realized gains and losses on investments that result from changes in foreign currency rates. Sample financial statements and illustrations for separately calculating and disclosing the foreign currency element of realized and unrealized gains are included. 28 pages