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Consoildation of foreign operation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Consoildation of foreign operation

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • July 9, 2023 at 10:09 pm #687800
    humai
    Participant
    • Topics: 757
    • Replies: 248
    • ☆☆☆☆☆

    Sir in the following, which 1 is better to write and correct, A or B? Also if there is any error is any of these then pls correct me

    a) Foreign exchange difference arise when translating foreign Subsidiary into presentation currency of group. This is because

    -GW is translated every year at closing rate
    -NA’s are translated every year at closing rate therefore exchange difference arise each year by comparing opening NA’s @ opening exchange rate with opening NA’s @ closing exchange rate
    Profit or loss for the year is translated every year at average rate
    Profit or loss will increase or decrease the net assets which will be translated @closing rate

    b) Foreign exchange difference arise when translating foreign Subsidiary into presentation currency of group. This is because

    -GW is translated every year at closing rate
    -Opening NA’s are translated every year@ Opening rate
    -closing NA’s are translated every year @ Closing rate
    -Profit or loss for the year is translated every year at average rate
    -Profit or loss will increase or decrease the net assets which will be translated @closing rate

    July 10, 2023 at 8:17 am #687808
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3411
    • ☆☆☆☆☆

    Both are very clear.

    🙂

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