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Multiple-Currency Operation: Challenges and Advantages

By Joe Danowsky

With more U.S. law firms serving ' or becoming ' global enterprises, many readers will need to gain new fluency in dealing with foreign currencies and exchange-rate issues. Before you immerse yourself in technical details, here's a preview of some practical issues you may encounter and some business advantages you might seek.

Special thanks are due to Wayne Schertler, CPA, my primary guide into this subject. (For supplemental ideas by other contributors, see the accompanying sidebar, below.) Schertler is the Director of Finance for Faegre & Benson LLP (http://www.faegre.com/). With about 450 attorneys, Faegre has its headquarters in Minneapolis and additional offices in Boulder, Denver, Des Moines, Frankfurt, London and Shanghai.

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