Chpt 14 FOREX Flashcards
1
Q
Functional currency
A
Fact
2
Q
Presentation currency
A
Choice
3
Q
SOFP
All assets and liabilities
A
At YE rate
4
Q
SC and pre acquisition reserves
A
@ historic rate
5
Q
Post acquisition reserves
A
Balancing figure
6
Q
SoPol
All items
A
At average rate
7
Q
GW calculation at Acquisition and every year end
A
Closing rate
8
Q
FV NCI @ acquisition
A
At historic rate
9
Q
Translation gain / loss SOFP
A
Closing NA (SoFP SC+reserves) @ CR
Less opening NA (SoFP reserves minus profits for yr) @HR
Less profit for yr @ AR
Plus gain on translation of GW
