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How do we prepare consolidated financial statements of a company having transactions in various currencies ?

Accounting Financial Reporting Financial Accounting Financial Management
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Question added by Deleted user
Date Posted: 2014/09/19
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FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

No problem with that 

According to the principle of the stability of the monetary union 

Is calculated by the value of the transaction value of the local unit on the date of the transaction 

In the case of the existence of differences in the exchange rates of currencies end of the period it opens a new account and close in the income statement

georgei assi
by georgei assi , مدير حسابات , المجموعة السورية

There are two ways are used in the process of translating the financial statements prepared in currencies of foreign currency the main center or the Holding Company, and these methods are: - 1-way translator or the current rate 2-way re-measurement

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