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Translation of acquisition balance sheet at a spot rate and NOT the month end rate

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edited Jun 5, 2020 8:39PM in Financial Consolidation and Close 6 comments

Summary

Translation of acquisition balance sheet at a spot rate and NOT the month end rate

Content

Hello All,

 

Is this standard functionality of FCCS?

 

The client has acquired a company on the 4th working day on last month. We have other entities that are using the same currency, and therefor need the true month end rate.

 

Share capital and share premium is translation at the special rate as these accounts have been marked as historical. Technically the acquisition balance sheet should all be at the special rate.

 

I even tried capturing a special rate against the acq movement, but for a normal account like Cask/Bank. It did not work.

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