Foreign currency translation definition

Foreign currency translation. The accounting records of the Company are maintained in United States dollars. Monetary assets and liabilities in a foreign currency are translated into United States dollars at the prevailing rates of exchange at year end. Revenue receipts and expense payments are translated into United States dollars at the prevailing exchange rate on the respective dates of transactions. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84. All amounts are CI Dollars (‘000) unless otherwise noted.
Foreign currency translation means the period-over period impact of foreign currency translation, which is calculated by applying current-year foreign exchange rates to the various functional currencies in our business to our reporting currency of US dollars for the same period in the prior year.•
Foreign currency translation. The accounting records of the Company are maintained in United States dollars. The Budget has been prepared in Cayman Islands Dollars. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84.

Examples of Foreign currency translation in a sentence

  • Fixed assets, other than land, are depreciated by the straight-line method at the following rates estimated to write off the cost of the assets over their expected useful lives: Buildings, Runways, Apron, Car Parks (20 – 40 years) Other Assets (4 – 10 years) Foreign currency translation Assets and liabilities denominated in currencies other than Cayman Islands dollars are translated at exchange rates in effect at the balance sheet dates.


More Definitions of Foreign currency translation

Foreign currency translation using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian dollars. The Company has not, to the date of these financials statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
Foreign currency translation means the difference of exchange rates resulting from translation of financial statements denominated in foreign currency of foreign operations. Foreign operations are subsidiaries, associates, joint ventures or branches of a reporting bank, where there are activities or businesses in other countries or currencies than that of the reporting bank. This shall be in accordance with relevant accounting standards and financial reporting standards.
Foreign currency translation shall not be taken into account in calculating Consolidated Net Worth.
Foreign currency translation. Balance sheet accounts are translated at the exchange rate in effect at each year-end and income accounts are translated at the average rates of exchange prevailing during the year. The national currencies of the foreign companies are generally the functional currencies. Gains 32 ITT INDUSTRIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) DOLLARS IN MILLIONS, EXCEPT PER SHARE, UNLESS OTHERWISE STATED (losses) from foreign currency transactions are reported currently in other operating expenses and were $(4), $4, and $8 in 1995, 1994, and 1993, respectively.

Related to Foreign currency translation

  • Foreign Currency means any currency or currency unit issued by a government other than the government of The United States of America.

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Currency Pair means the object or Underlying Asset of a CFD Transaction based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.

  • Currency means Dollars or any Foreign Currency.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.07.

  • Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.

  • National Currency Unit means the unit of the currency of a country as those units are defined on the day before the start of the third stage of European Economic and Monetary Union pursuant to the Treaty or, in connection with the expansion of such third stage, to any country which has not initially participated in such third stage; and