Consolidations: Foreign Operations

Question 1

What differences does it make if the functional currency of your foreign sub is not in ZAR?

Answer 1

then the translations happen on the worksheet and some other things

Question 2

Must the exchange difference that results from translation of foreign currency results go straight to equity or not?

Answer 2

• It must go into OCI according to IAS 21

Question 3

How can I learn all the consols in this topic here?

Answer 3

GO LOOK AT THE ASSIGNMENTS, ITLL BRING EVERYTHING BACK INTO MEMORY