b. describe foreign currency transaction exposure, including accounting for and disclosures about foreign currency transaction gains and losses;

c. analyze how changes in exchange rates affect the translated sales of the subsidiary and parent company;

a. distinguish among presentation (reporting) currency, functional currency, and local currency;

d. compare the current rate method and the temporal method, evaluate how each affects the parent company's balance sheet and income statement, and determine which method is appropriate in various scenarios;

e. calculate the translation effects and evaluate the translation of a subsidiary's balance sheet and income statement into the parent company's presentation currency;

d. compare the current rate method and the temporal method, evaluate how each affects the parent company's balance sheet and income statement, and determine which method is appropriate in various scenarios;

e. calculate the translation effects and evaluate the translation of a subsidiary's balance sheet and income statement into the parent company's presentation currency;

d. compare the current rate method and the temporal method, evaluate how each affects the parent company's balance sheet and income statement, and determine which method is appropriate in various scenarios;

e. calculate the translation effects and evaluate the translation of a subsidiary's balance sheet and income statement into the parent company's presentation currency;

f. analyze how the current rate method and the temporal method affect financial statements and ratios;

g. analyze how alternative translation methods for subsidiaries operating in hyperinflationary economies affect financial statements and ratios.