Foreign currency translation in Individual account and in consolidation

Hi, You're correct that it needs translating as a monetary item but you need to be careful that when translated at the year end we need to increase the loan liability from 40 million dinars to 48 million dinars. An increase in the liability therefore results in the 8 million dinar loss through profit or loss. You cannot assume it has already been done as there would then be nothing to test. Thanks

Hi, The subsidiaries accounts will need to be adjusted, we cannot assume that they are correct, unless told otherwise. Yes, if it was a non-monetary balance then there would be no need to translate in S's accounts and so no exchange gain/loss. Keep up the hard work. Thanks