[转贴] Review of Foreign Currency Financial Reporting from Euro to Yen to Yuan

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Review of
Foreign Currency Financial Reporting from Euro to Yen to Yuan: A Guide to Fundamental Concepts and Practical Applications
Foreign CurrencyForeign exchange -- or "Forex" -- trading is exchange of one country's currency for another.

That seems simple enough. In reality, the Forex market is a deceptively complex network of global financial centers that are active round the clock. Indeed, the exchange of currencies helps shapes global commerce.

So, while a Forex trade is as close as a computer, this fast-paced market can be the undoing of anyone who doesn't do his or her homework.

Forex is intimidating, but it shouldn't be scary. Thankfully, new high-quality Forex resources continue to emerge. The common message is that access presents a host of opportunities -- and challenges -- for anyone who wants to dig below the surface of the world's most active, liquid market.

Robert Rowan's Foreign Currency Financial Reporting provides an indispensable foundation in Forex fundamentals.

"Exchange rates come from any number of sources, including banks, web sites and service providers," Rowan explains in the book. "These data, provided from whichever source, mark the starting point. The quality of the data at the beginning of the process determines the values reported at the end of the process, and, more importantly, the quality of the values reported. Understanding the process that takes place between the start and end proves just as important."

Rowan, a certified public accountant, is international finance controller for SAS, the world's largest privately held software company. As a result, he was well-equipped to write this no-nonsense resource. Foreign Currency Financial Reporting is an indispensable reference you'll want to keep close.

In plain language, the book dispels confusion about multicurrency reporting, exchange rates and the fundamental mechanics of foreign currency. It also addresses a host of confounding issues and offers essential information on navigating world currency formats and International Financial Reporting Standards.

"The terminology remains important," writes Rowan in an effort to dissect common misunderstandings. "You must know and use the terms correctly. More importantly, you need to understand the terms' definitions and how to apply the underlying concepts correctly in practice."

Yes, Foreign Currency Financial Reporting is an essential, one-stop resource professional market technicians. However, the bookalso speaks to anyone who wants to develop "on-the-spot knowledge of foreign currency and changes in exchange rates," such as the serious, individual Forex trader.

"My objective is to present a guide to foreign currency reporting for any reader," Rowan writes in the book's preface. "Regardless of your role or background, you can use this book to gain an understanding of foreign currency reporting. It serves as the bridge to understanding what otherwise would be disparate sources, each potentially presenting itself as arcane, recondite or just plain difficult."