Foreign Currency Revaluation
Restate foreign-currency monetary balances at the closing rate and measure what was not booked.
- Ledger + closing exchange rates
How the result is read
Monetary items in a foreign currency are carried at the closing rate (IAS 21, ASC 830, FRS 102 s30). The foreign balance of each account comes from the transaction-currency amounts on its lines; restated at the closing rate, the difference from the functional amount the ledger carries is the unrealised gain or loss. Non-monetary groups (fixed assets, inventory, equity) keep their historical rate and stay out. The rate’s direction is read from the ledger’s own lines, so it is applied the right way however it was typed.
In the application
Foreign Currency Revaluation is filed under Cash & financing, index letter G. "Run all analyses" runs it with every other analysis the ledger and the documents loaded can answer. The worksheet states the population it tested on its face — or "Not applicable" with the reason when a column it depends on is empty — and the Excel workbook the engagement exports files it under G, beside an index of the source files with their SHA-256 fingerprints.
Read it with
Run your next audit file test without the Excel crash.
One free engagement to evaluate, valid 60 days. The ledger never leaves the machine.
- 20 minutes
- Runs on a fictional engagement
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