Intra-group transactions in foreign currency

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August 22, 2017 at 4:14 pm #403024
trendline
Member
- Topics: 21
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Hi,
When consolidating a foreign sub, do we assume that intra-group transactions cannot be offset as they are in different currencies, or do we convert at CR then offset?
Thanks
August 25, 2017 at 9:02 pm #403550
P2-D2
Keymaster
- Topics: 4
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Hi,

They have to be offset as the group is still a single entity but you’re correct you need to translate the overseas balance prior to elimination.

Thanks
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