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Foreign subsidiary

Lline15y ago
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
MikeLittleMikeLittleTutor15y ago#1
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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