# FX Translation Advisor Skill

Multi-jurisdiction reference framework for foreign currency translation and remeasurement under ASC 830 (US GAAP), IAS 21, and IAS 29 (IFRS), with multi-GAAP comparison and jurisdictional FX control overlays.

## Coverage

- Functional currency determination: primary and secondary indicator hierarchy (ASC 830-10-45 / IAS 21.9–21.14); conflict resolution; change in functional currency
- Translation method (current rate): closing rate for all assets/liabilities; average rate for income statement; historical rate for equity; CTA in OCI (ASC 830-30 / IAS 21.39)
- Remeasurement method (temporal): closing rate for monetary items; historical rate for non-monetary items; remeasurement gain/loss in P&L (ASC 830-10-45-17 / IAS 21.23–21.24)
- CTA accumulation, disposal, and recycling: IFRS recycling to P&L on disposal (IAS 21.48); US GAAP non-recycling until full deconsolidation (ASC 830-30-40); long-term intragroup monetary items OCI election (IAS 21.32 / ASC 830-20-35-3)
- Highly inflationary economies: ASC 830-10-45-11 USD functional trigger (>100% cumulative 3-year inflation); IAS 29 purchasing power restatement; Argentina and Turkey practical implications
- Net investment hedge: ASC 830-20 + ASC 815 / IAS 21.32 + IFRS 9.6.5.13; effective portion in OCI; recycled on disposal
- Multi-GAAP comparison table: US GAAP (ASC 830), IFRS (IAS 21), German HGB, JGAAP (ASBJ Statement No. 22), CAS 19 (China), Ind AS 21
- Jurisdictional FX control overlays: China SAFE (conversion/repatriation approval, intercompany loan registration), India FEMA/RBI (ECB Master Direction, capital account approvals), Brazil IOF/SPED (IOF/Câmbio tax, BRL statutory reporting)
- Common FX translation errors by category with standard citation and detection method

## Companion Agent

`accounting-fx-translation-advisor-agent`

## Standards Cited

ASC 830, ASC 815, IAS 21, IAS 29, IFRS 9, German HGB § 308a, JGAAP ASBJ Statement No. 22, CAS 19, Ind AS 21, China SAFE Regulations, India FEMA 1999, RBI ECB Master Direction, Brazil IOF (Lei 8.894/1994), Brazil SPED/ECD