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ABII » Topics » Foreign Currency Translation

This excerpt taken from the ABII 10-K filed Mar 12, 2010.

Foreign Currency Translation

The financial statements of our consolidated foreign subsidiaries are prepared using the subsidiaries currency as the functional currency. Balance sheet amounts are translated at the end of period exchange rate. Income statement and cash flow amounts are translated at the average exchange rate for the period. Adjustments from translating these financial statements into U.S. dollars are recognized in the equity section of the balance sheet under the caption, “Accumulated other comprehensive (loss) income.”

This excerpt taken from the ABII 10-K filed Mar 6, 2009.

Foreign Currency Translation

The financial statements of our consolidated foreign subsidiaries are prepared using the subsidiaries currency as the functional currency. Balance sheet amounts are translated at the end of period exchange rate. Income statement and cash flow amounts are translated at the average exchange rate for the period. Adjustments from translating these financial statements into U.S. dollars are recognized in the equity section of the balance sheet under the caption, “Accumulated other comprehensive (loss) income.”

EXCERPTS ON THIS PAGE:

10-K
Mar 12, 2010
10-K
Mar 6, 2009

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