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Investing Glossary:
FASB No. 8
Copyright 2009,
Campbell R. Harvey. All Rights Reserved.
Do not reproduce without explicit permission.
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| Definition: |
| U.S. accounting standard that requires US firms to translate their foreign affiliates` accounts by the temporal method; that is reporting gains and losses from Currency fluctuations in current income. It was in effect between 1975 and 1981 and became the most controversial accounting standard in the US It was replaced by FASB No. 52 in 1981.
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