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Opening balance translation for shared entities

edited Dec 24, 2018 11:35PM in Financial Consolidation and Close 7 comments

Summary

Opening balance translation for shared entities

Content

Hi all

I had a question in case any of you have come across this.

So my entity dimension has a USD Subconsolidated with a few entities with different currencies and they all translate to USD when the consolidation is executed.

ParenEntity --- USD

    Entity 1  ----- USD

    Entity 2 ----- EUR

    Entity 3 ----- CAD

After a few months and some structural movements inside the group, Entity 2 had to be moved to a different Parent Entity (subconsolidate) which also has USD as the currency, kind of like the following structure

ParenEntityNew --- USD

    Entity 4  ----- USD

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