Translation & Consolidation of Foreign Operations

What are the three perspectives on foreign currency exposure?

Under the functional currency translation (FCT / temporal) method, what rates apply and where do gains/losses go?

How is a foreign operation in a highly inflationary (hyperinflationary) economy translated?

What is the key contrast between the FCT (temporal) and PCT (current-rate) methods in where the translation gain/loss is reported?

What happens to the cumulative translation account (CTA) in OCI when the foreign operation is disposed of?

What is the difference between a net asset exposure and a net liability exposure?

How are the acquisition differential and goodwill of a foreign operation translated?

What is the sequence for consolidating a foreign operation?

What determines whether the FCT or PCT method is used for a foreign operation?

Why are a foreign operation's income statement items translated at the average rate under the current-rate method?

Under the presentation currency translation (PCT / current-rate) method, what rates apply and where do translation differences go?

Which balance-sheet items create translation (accounting) exposure?