Prophylactic: A preventive measure. The word comes from the Greek for an advance guard, an apt term for a measure taken to fend off a disease or another unwanted consequence. A prophylactic is a medication or a treatment designed and used to prevent a disease from occurring.
Changes in functional currency amounts that result from the measurement process are called transaction gains or losses; transaction gains and losses are included in net income. Foreign currency translation is the process of expressing a foreign entityâs functional currency financial statements in the reporting currency. Translation adjustments are included in the cumulative translation adjustment (CTA) account, which is a component of other comprehensive income.
Category Breakdown. Overview. Global Payments Inc. (globalpaymentsinc.com) is one of the largest credit card processors in the payment processing industry and has been in business since the 1960s. Itâs also one of the few merchant account providers to be publicly traded on the New York Stock Exchange (NYSE: GPN).