Foreign Currency Translation
Restating balances denominated in a foreign currency into the reporting currency at the applicable exchange rate, with the resulting gain or loss recognised per the applicable accounting standard.
Related terms
- Fixed Asset Register (FAR)
The detailed record of every fixed asset a company owns — cost, location, accumulated depreciation, useful life — that should tie to the general ledger balance.
- Fixed Deposit (FD)
A deposit placed with a bank for a fixed term at a fixed interest rate — verified in audit by confirmation from the bank, not merely the client's own record.
- Form 16 / Form 24Q
Form 16 is the TDS certificate issued to an employee for tax deducted on salary; Form 24Q is the quarterly TDS return an employer files reporting those deductions.
- Form 3CD
The detailed statement of particulars required to be furnished under a tax audit, covering a wide range of income-tax-specific disclosures beyond what a statutory audit examines.
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