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Given the functional currency principle in ASC 830, intercompany foreign currency transactions can create and transfer foreign currency risk between a reporting entity and its foreign entities, and among a reporting entity’s foreign entities. This chapter discusses the accounting for intercompany foreign currency transactions. See TX 13 for information on deferred taxes on intercompany loans with foreign subsidiaries.

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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