Our company has three different currencies, that is CAD, USD and UGX. We use quick books. We report in CAD, for auditing purposes i have to prepare the trial balance in UGX. How do i convert the transactions in USD to UGX for the last two financial years or is there a formula for getting the exchange rate that was used in October 2015.
Foreign exchange is not in the syllabus for Paper F3.
I assume you are asking for practical reasons and not for exam reasons. We cannot give practice advice – we only provide help for students sitting exams. I suggest that you ask your company’s auditors.
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