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17 May, 06:28

What are major procedural differences in applying the current rate and temporal methods of translation?

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  1. 17 May, 06:40
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    Answer and explanation:

    The current method or currency translation method refers to the theoretical procedures a company follows when translating its financial statements from its natural currency into a foreign currency in the present time. The temporal method at the same time is a set of approaches to translates the financial statement currency into another but using historical exchange rates according to the date when those transactions took place.
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