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NCI translation rate

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › NCI translation rate

  • This topic has 2 replies, 2 voices, and was last updated 12 years ago by karmuks.
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    Posts
  • June 4, 2013 at 6:29 pm #129144
    karmuks
    Member
    • Topics: 29
    • Replies: 108
    • ☆☆

    Im really confused what rate to use when calculating NCI?

    Normally i did so:

    NCI at opening rate
    + profit share at average rate
    – any impairment at average rate.

    but now i found in another book that NCI is translated at closing rate not opening, which one is correct?

    June 6, 2013 at 8:13 pm #130032
    tylerk
    Member
    • Topics: 3
    • Replies: 24
    • ☆

    There are optional methods used in foreign currency translation. Use the one you’re comfortable with

    June 6, 2013 at 10:20 pm #130068
    karmuks
    Member
    • Topics: 29
    • Replies: 108
    • ☆☆

    right, i hope i will not penalized if its wrong

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