FASB No. 8

What is FASB No. 8?

FASB No. 8 meaning in finance terminology / glossary / dictionary is:
U.S. accounting standard that requires U.S. firms to translate their foreign affiliates’ accounts by the temporal method; that is reporting gains and losses from currency fluctuations in current income. It was in effect between 1975 and 1981 and became the most controversial accounting standard in the U.S. It was replaced by FASB No. 52 in 1981.

 

reference: Yahoo Finance Glossary

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