ACCT 405 WEEK 6 DISCUSSION LATEST
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ACCT 405 Week 6 Discussion Latest
ACCT405
ACCT 405 Week 6 Discussion Latest
Week 6: Budgets in a Foreign Currency and Currency Translation
You have just won a free trip to the destination of your choice
and all airline or other transportation costs are provided (OK, this is just
pretend!), but you need to budget for your expenses during the 3 days you will
be there, because you want to be able to buy the correct amount of foreign
currency.
Using either the direct method or indirect method, prepare a
budget to include your hotel, food, and entertainment costs for the 3 days.
Select one of the recommended locations listed below and then, using the
appropriate foreign currency conversion rate for the end of month prior to your
departure date (today), tell the class the currency exchange method, currency
need for your location, quoted price, Internet link to that quote, budget
amount in U.S. dollars, and the amount of foreign currency you will need when
you arrive.
You may choose any of the following locations: Paris, France;
London, England; Sydney, Australia; Hong Kong, China; or Agra, India.
For historical currency quotes, http://www.x-rates.com/ (Links
to an external site). Links to an external site. is one recommended site.
For your response discussion requirement, critically examine the
budget and currency calculations of another student. Tell that student what heor she did correctly or incorrectly. (CO 4)
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