How to represent Assets bought in foreign currency at historical rates
Hi All
We are having are requirement of revaluing the assets bought in CAD and Revalued it in our Functional Currency USD at Historical Rate.
As we know Assets can be maintained in Functional Currency only not in foreign currency .
So we have created an asset book in which assets are maintained in CAD.(The Ledger is associated with CAD Currency)
Is it possible to revalue the Assets Cost balance in USD at historical rate either using Reporting currency ledger or Secondary ledger .
Or Suggest us some other solution.
Regards
Uday