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How owner's equity in other currency should be translated when consolidated with US book

edited Jun 12, 2012 6:39PM in General Ledger - EBS (MOSC) 3 commentsAnswered
 

We are in the process of setting up Hong Kong book which should be consolidated to US book. We really need some help to understand how owner’s equity is translated. Couple of questions regarding how Oracle translate retained earnings and capital contributions.

1) If US parent company made USD$500 capital contribution to HK on Jan 15. Assume the exchange rate was 1:7. Therefore HKD$3500 was booked to HK book as owner's equity. At the end of the month, how do I ensure the HKD$3500 will be translated into $500 USD when perform translation from HKD to USD? 

1.1) if US make 2nd contribution of

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