IAS 21

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September 30, 2019 at 1:00 pm #547672
muitta
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How do you go about when given financial position statement of three companies, The parent and the subsidiary have the same currency but the third company has a different currency? And then asked to prepare a statement of financial position?
October 3, 2019 at 8:57 pm #548064
P2-D2
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Hi,

You would follow the standard rules as per the standard, so translate the assets and liabilities at the closing rate. Once you’ve done that then you consolidate the results alongside the other two companies.

Thanks
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