As the U.S. dollar is displaced as the world’s single reserve currency, and cross-border trade increases, individuals who previously encountered a Yen or a Franc or a Yuan only at their last tourist destination now find themselves at work in a multi-currency environment.
In a multi-currency environment you sit at the complex intersection of economics, currency markets, mathematics, official financial reporting standards, management reporting, computer science, and governmental fiscal and monetary policy. A company could swing from profit to loss without a single change in operations, simply by movement of exchange rates. Further, the calculations to determine the effect of exchange rates can be exceedingly complex.
Robert Rowan’s Foreign Currency Financial Reporting from Euros to Yen to Yuan - A Guide to Fundamental Concepts and Practical Applications is the first book to discuss both the financial and management reporting on which markets and companies rely, and the underlying programming concepts related to data in multiple currencies—and it does so without relying on technical jargon. By focusing on the fundamental concepts, this book allows you to report past transactions accurately and consistently, but also look into the future to forecast and foresee the impacts that changing and volatile exchange rates could have on your business. The basic system requirements for a standard-compliant program are inherent in the text, for the technically inclined reader. It includes real-life case studies that demonstrate the importance of specific concepts, as well as what could go wrong. Written for a wide audience that spans multiple industries and job descriptions, Foreign Currency Financial Reporting is the definitive source to which individuals can turn for a clear, concise, practical understanding of multicurrency environments.