OneWorld FX Implementation Considerations

From my experience with OneWorld it seems like one of the main benefits of the module is the foreign currency, translation and consolidation engines. However this benefit really accrues for companies where the functional currency of subsidiaries is different than the parent's currency. When the functional currency of the subsidiary is the same as the parent's, the benefit of translation and foreign currency no longer accrues as much (although consolidation is easier than say using a dimension in a regular instance).

In almost all my experiences with existing NS customers who have implemented OneWorld, it seems like in almost all cases the module was implemented by setting all foreign subs to the local currency, without any accounting consideration given to the functional currency. Actually in all the cases I've seen, the functional currency was indeed the same as the parent's company and the fact that the sub was implemented in the local currency resulted in incorrect accounting. This make me wonder if a large majority of NS OneWorld customers even have the FX setup right from an accounting perspective. Given the