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exchange diff of associate

This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.

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November 24, 2011 at 4:20 am #50666
kateker
Member
- Topics: 14
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Dear sir,
Is my understand right about problem below?
When we account for the exchange difference of ‘investment in associate(foreign)’ account in the CSOFP, is the whole difference arised because the differece between the closing rate and historical rate of the COST part. So the CV will be the new COST(valued at CR) plus Share of associate’s profit valued at the average rate.
Thanks in advance!!!
November 28, 2011 at 5:07 pm #90121
MikeLittle
Keymaster
- Topics: 27
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It’s probably more accurate to say it’s the difference between last year’s closing rate translation and this year’s closing rate translation.
Your’s is the same point, but only applies when we have acquired this year
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