Summarize the Three Types of Organizations Classified According to the Three

question 87

Essay

Summarize the three types of organizations classified according to the three different purposes for which they are formed.Give an example of each and the purpose and customers they serve.

Acquire knowledge on the complexities and accounting requirements of speculative derivatives.

Differentiate between foreign currency forward contracts and option contracts, including their respective accounting treatments.

Understand how to calculate the impact of exchange rate changes on the financial statements of companies engaged in foreign transactions.

Identify the components of, and prepare, journal entries related to foreign currency transactions and adjusting entries at year end.

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