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Foriegn subsidary and foreign loan

Forums › ACCA Forums › ACCA SBR Strategic Business Reporting Forums › Foriegn subsidary and foreign loan

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by Handsome.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • May 20, 2015 at 8:30 pm #247475
    katieliu
    Member
    • Topics: 18
    • Replies: 19
    • ☆

    Hi there,

    who can give me a summary of how to treat the exchange gain or loss in
    1, retranslation of Foreign loan
    2, translation of goodwill and net asset

    As I know the exchange G/L for retranslate of foreign (loan cash, receivable payable )moneytary items is accounted into P/L

    for consolidate accounts with foreign subsidary. exchange G/L from goodwill translation and Net asset translation should be accounted into OCI.

    However, the question Jun 08 Ribby has accounted the exchange gain or loss in Retained earning.

    While the question Jun 11 Rose foreign subsidary has accounted it in exchange reserves with an extra line in equity.

    I thought the OCE stand for other than Retained earnings. therefore, OCI should be included in OCE. is it right?

    Thanks
    Katie

    May 26, 2015 at 8:08 pm #249335
    Handsome
    Member
    • Topics: 9
    • Replies: 94
    • ☆☆

    KAPLAN exam ki tis very confusing, they are solving each question with different method.

    G/L from translation should be recorded in retain earnring (or other component of equity)

    here is my working for Rose:

    Group R/E
    Rose 256
    Petal 4.2
    Stem 8.32
    Dep 0.4

    Other component of equity
    Rose 7
    Patel 0.7
    Loss on acq (5.9)
    Exchange gain 9.2
    revaluation 2.25

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    Posts
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