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| Formerly, there was significant disagreement among informed observers regarding the basic nature, information content, and meaning of results produced by various methods of translating amounts from foreign currencies into the reporting currency. Current U.S.?GAAP direct that organizations A. Change the accounting model to recognize currently the effects of all changing prices in the primary statements. B. Defer any recognition of changing currency prices until they are realized by an actual exchange of foreign currency into the reporting currency. C. Recognize currently the effect of changing currency prices on the carrying amounts of designated foreign assets and liabilities. D. Recognize currently the effect of changing currency prices on the carrying amounts of all foreign assets, liabilities, revenues, expenses, gains, and losses. |