Dear sir,
I am very confusing about adjustment SOCI for foreign sub Tybull in answers.
They caculate exchange rate difference for profit for the year ( between average ex rate and reporting date ex rate).
In my understanding, items in SOFP(assets & liabilities) use reporting date ex rate .
RE post acquisition also use average ex rate.
Why they convert profit for the year in SOCI by using reporting date?
Please help me .
Thank you so much.