- This topic has 5 replies, 2 voices, and was last updated 4 years ago by
.
- Posts
- Topics: 6
- Replies: 6
- ☆
Hello Sir,
While calculating foreign exchange differences of a subsidiary, if we have only been given subsidiary’s “Total Comprehensive Income” in its local currency (foreign currency) , then do we take this total comprehensive income in place of “profit for the year” for calculating total exchange difference on Subsidiary’s Net Assets?
Thanks!
- Topics: 6
- Replies: 6
- ☆
*on acquisition of a foreign subsidiary
Yes – it should be the XD on opening NA plus the XD on TCI – some practice questions probably just have profit (and no OCI)
- Topics: 6
- Replies: 6
- ☆
Thank you very much 🙂
- Topics: 6
- Replies: 6
- ☆
Just one more question:
So, I guess we’ll calculate TCI attributable to NCI in the following manner:Subsidiary’s TCI X
FV Depreciation (X)
Impairment (X)
Exchange Gain/Loss X/(X)x NCI%
Thanks!
- The topic ‘Foreign Currency’ is closed to new replies.