Examlex
Explain the benefits of XBRL.
Financial Statements
Structured reports that detail the financial activities and condition of a business, including the balance sheet, income statement, and statement of cash flows.
Current Rate Method
A method used in financial reporting to convert the financial statements of a foreign subsidiary to the parent company's reporting currency, using the current exchange rates.
Exchange Rate
The price at which one currency can be exchanged for another in the foreign exchange market.
Assets And Liabilities
Resources owned and controlled by a business (assets) and obligations to transfer resources to another entity (liabilities).
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