SUMMARY
Characteristics of a constructed time series of price parity numbers were compared with the time series of exchange rates between twenty-two countries’ currencies and the United States dollar. These characteristics were analyzed to determine in which countries an accounting policy change from exchange rates to price parity for translation of foreign currency would result in greater information content of consolidated statements. The results of the study are consistent with the use of price parity for sixteen of the twenty-two countries studied, but not for translation of accounts between the Japanese yen and the United States dollar.