Topical Terminology > Fasb No. 8
1 Definition
Fasb No. 8
For Fasb No. 8 we have a term and definition in Finance.
Fasb No. 8 (Finance) 
U.S. accounting standard that requires U.S. firms to translate their foreign affiliates' accounts by the temporal method; that is reporting gains and losses from currency fluctuations in current income. It was in effect between 1975 and 1981 and became the most controversial accounting standard in the U.S. It was replaced by FASB No. 52 in 1981.
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