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Foreign subsidiary

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

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May 25, 2011 at 3:52 pm #48616
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Dear mike,
I’m confused with whether we should do the adjustment of the foreign subsidiary before we translate the statement of financial position of the foreign subsidiary or after we do the translation?
Thanks
May 26, 2011 at 2:35 pm #82308
MikeLittle
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It depends upon which currency the adjustment is in. As a general rule, I think if you adjust the foreign subsidiary’s statements before translation, that will most often be correct
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