Page 367 - F2 Integrated Workbook STUDENT 2019
P. 367
Foreign currency translation
2.3 Consolidation of foreign subsidiary
Once the foreign subsidiary has been translated, the subsidiary can
be consolidated using normal techniques.
Foreign currency exchange differences will arise from the translation
of the sub’s net assets and goodwill.
They are taken to GROUP RESERVES.
Annual exchange differences are shown in OCI.
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