CONVERSION: Conversion refers to foreign currency transactions that are immediately converted at the time of entry to the functional curr...
CONVERSION: Conversion refers to foreign currency transactions that are immediately converted at the time of entry to the functional currency of the set of books in which the transaction takes place.
REVALUATION: Revaluation adjusts liability or assets accounts that may be materially understated or over stated at the end of a period due to a fluctuation in the exchange rate between the time the transaction was entered and the end of the period.
TRANSLATION: Translation refers to the act of restating an entire set of books or balances for a company from the functional currency to a foreign currency.
