A forward exchange contract is an agreement to exchange different currencies at a specified future date and at a given rate (forward rate). A forward contract is a foreign currency transaction. A gain or loss on a forward contract that does not satisfy... 

Foreign currency transactions are denominated in a currency other than the company’s functional currency. Foreign currency transactions may result in receivables or payables fixed in the amount of foreign currency to be received or paid. A foreign currency... 

The foreign entity’s financial statements in a highly inflationary economy is not sufficiently stable and should be re-measured as if the functional currency were the reporting currency. Thus, the financial statements of those entities should be re-measured...