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I know from a group’s perspective, when translating a balance sheet in foreign currency, any foreign exchange gain/(loss) is reported in a translation reserve in Group balance sheet.
Just say though sir, if we are preparing accounts for a single entity whose balance sheet is denominated in the ‘dollar’ and we are required to translate the balance sheet into the ‘dinar’ just to comply with the local tax laws or for any other reason, how is this done for ‘single entities’? How is the exchange gain/(loss) upon translation accounted for?
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