外幣折算會(huì)計(jì)簡(jiǎn)史外文翻譯-文庫(kù)吧資料
2025-05-22 12:26本頁(yè)面
【正文】 traced back to ancient times. The Phoenicians are remembered as the great barterers of the ancient world. During the latter part of the Middle Ages, enterprising individuals saw that the establishment of foreign branches could facilitate international trade. The importance of international merce to the economic wellbeing of nations has increased ever since. Accounting for foreign operations and transactions has taken many forms throughout history. This paper primarily discusses the evolution of accounting for 2 foreign currency translation in the USA in the twentieth century. However, some of the evidence of foreign currency accounting practices from the ancient Greeks to the colonial Americans are discussed first. Some early foreign currency accounting practices The existence of foreign currency transactions can be traced back to the earliest civilization known to have used coined money, the ancient Greeks. The invention of coined money is believed to have taken place in this civilization about bc 630 (Chatfield, 1977, p. 21). Although the use of coinage spread rather slowly, in time a number of the Greek citystates issued their own coins. These Greek citystates engaged in trade with each other, thus resulting in essentially foreign currency transactions. The ancient Greeks often translated to the local coinage transactions denominated in a foreign coinage, but this treatment was not consistent (Littleton and Yamey, 1956, p. 21). They also were inclined to record quantities of modities and units of a foreign currency in the accounts. During the middle ages (400 to 1400 ad), international trade expanded significantly as a result of the crusades which stimulated European dema nd for foreign goods. Toward the end of this period foreign trade had bee quite prevalent and the establishment of foreign business branches was a natural result. In the Datini Archives is a balance sheet for the Barcelona branch dated January 31, 1399, and an ine statement covering the period from 11 July 1397 to 31 January 1399. The ine statement is interesting because it contains an account entitled Pro di Cambio (Profits on foreign exchange (Littleton and Yamey, 1956, p. 145). The Barcelona branch kept the accounts with the foreign correspondents, the Nostro accounts, in terms of both the foreign currencies and the local currency. At a point in time, the exchange profit or loss was calculated by taking the difference between the balances stated in the foreign currencies and the balances stated in the local currency (Littleton and Yamey, 1956, p. 145). 3 A similar accounting technique was used by colonial American merchants during the 15 years between 1795 and 1810 when businesses were making the transition from English pounds to US dollars. The accounts of these merchants were often kept in terms of both currencies (Littleton and Yamey, 1956, p. 287). Early twentieth century foreign currency accounting A 1900 textbook by George Lisle, an English chartered accountant, describes accounting for foreign currencies at that time in England (Lisle, 1900). Lisle wrote that domestic panies that have branches in foreign countries “should convert the transactions which take place in the various local currencies into pounds sterling on a correct basis, with the view of these transactions being recorded in the Home Book and being submitted in the Annual Abstract of Accounts to the proprietors of the business” (Lisle, 1900, p . 285). He noted that a number of erroneous principles were being used by panies at that time for converting their foreign transact
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