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Hey sir .. i cant get while translating the currencies in to functional currency .. whn to multiply and whn to divide the amount against the exchange rate .. can u please help me out ?
Hi,
The P2 exam has never really tried to test this knowledge, as it is more geared towards F9 and P4. All questions, to my knowledge, have asked you to convert a foreign currency into USD. Given the currency exchange rate is quoted to the USD (base currency) then we will divide the foreign currency by the given exchange rate to convert it to USD.
If you are genuinely concerned with this issue then can I suggest that you view the F9 videos on foreign currency.
Thanks
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