Fixed asset with historical values in LC

[Former Member]

Hi All,

How to handle fixet assets with historical values in local currency for consolidation?

Is historical values for asset comes in Trial Balance (TB) of current period ?

Could you please highlight the steps in this process ?

Thanks,

Raja

[former_member225135]

Hi Raja,

The question is not clear to me perse.

Trial balance will consist of opening balance and movement during the year for fixed assets.

for Consolidation,

Opening balance will be converted at opening rate ( closing rate of last period)

Movement are converted at average/periodic average/closing rate.

Regards,

Rahul