Page 365 - F2 Integrated Workbook STUDENT 2019
P. 365
Foreign currency translation
Foreign currency subsidiary
consolidations
2.1 Foreign currency consolidations
Foreign currency consolidations are required if a group contains a
subsidiary with a DIFFERENT functional currency to the parent.
To consolidate the foreign subsidiary:
(1) Translate the subsidiary into P’s functional currency
(2) Consolidate using normal techniques.
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