foreign currency accounting

This topic has 3 replies, 3 voices, and was last updated 12 years ago by El.

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April 29, 2014 at 11:07 am #166735
densdumbo1
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when we do the group retained earnings calc…..there are 2 methods used (assuming no impairment)
1…100% group r/e ($)
+% of post acq mov (in $)–using closing rate
retranslating the cost of investment

2.100% group r/e
+ % of post acq mov (in $) using avg rate

the answer frm both method differs…so will the sofp tally…marks will be given fr either method ryt ?

pls help ….thank you
May 10, 2014 at 3:45 pm #168248
El
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Based on the answer to q1 June 2011, the exchange rates to be used are:
Share Capital Historic
Pre-acq RE Historic
Post-acq RE Average
Revaluation Surplus and Other Component of Equity should be treated accordingly depending on whether they were acquired pre-acquisition or post acquisition.
I hope this is relevant!

I have a question on the same exam same question
WHARE IS THE ADJUSTMENT TO THE $19m TO THE CURRENT ASSETS (OR CASH)??????
I wasted mighty 2HOURS trying to find it
Please HELP HELP HELP !!!
May 13, 2014 at 7:58 am #168623
Anonymous
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the same question ,but i have problem in calculating NCI for Z
May 13, 2014 at 10:41 am #168638
El
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ginadaqing, what question you mean?
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