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ASU 2013-05 (FASB ASC 830): Accounting for Cumulative Translation Adjustments

Accounting Standards Update [ASU] 2013-05 resolves a practice diversity in circumstances where reporting entities release cumulative translation adjustments into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity.