Anyone have any good tips for this? I don’t know why but after 2 year of not testing this I feel like the CFA will this year and I want to be ready.
Current Rate
All BS items current rate
All IS items avg rate
Equity Historical rate for both
Temporal Method think CHH AHH
BS items
monetary assets current
non-monetary assets historical
equity - Historical
IS items
Sales - Avg
COGS - Hist
Dep/Amort Hist
Current rate is used when the local currency is used
Temporal is used when the foreign (parent company) currency is used.
A bit simple but I just think Country Currency = Current… If that makes sense to you. Works for me anyways to remember which method to use.