I cannot take credit for that one: I learned it from Peter Olinto.
(Note: for the record, O is for transfer of O wnership at the end of the lease, B is for _ B argain purchase agreement_. Maybe I didn’t do such a good job teaching it. )
I always remembered Lawrence Taylor Flattened Carson Palmer. And I envision Carson Palmer lying on the turf motionless, with Lawrence Taylor standing over him, drooling like a rabid dog.
In other words L -> T -> F -> C -> P.
In other words, to go from Local currency to Functional currency, you use the Temporal method. (Hence the " L -> T -> F" part)
And to go from the Functional currency to the Presentation currency, you use the Current Method. (Hence the “F -> C -> P” part.)
Here’s a silly one, core attributes of corp governance: RRAFT, ie. your company needs a raft to float on. Rights, Responsibilities, Accountability, Fairness, Transaparency. with an extra R