When translating the financial statements of the subsidiary at the date of acquisition by the parent, the

Question:

When translating the of the subsidiary at the date of acquisition by the parent, the on the date of acquisition is used to translate plant assets rather than the on the date when the subsidiary acquired the plant assets. Explain the rationale for this practice.
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...