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The initial correct treatment in consolidated accounts of exchange differences arising on a monetary item that forms part of a net investment in a foreign
The initial correct treatment in consolidated accounts of exchange differences arising on a monetary item that forms part of a net investment in a foreign company, in accordance with IPSAS 'The Elfects of Changes in Foreign Exchange Rates', is:
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Translate at the closing rate with resulting gains and losses reported in surplus or deficit
Translate at the closing rate with resulting gains and losses reported in a separate component of net assetsequity
Translate at the rate of exchange ruling on the date of the transaction with resulting gains and losses reported in surplus or deficit
Translate at the rate of exchange ruling on the date of the transaction with resulting gains and losses reported in the statement of net assetsequity
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