How Foreign Operations are Consolidated under IFRS | IAS 21

[@vivektiwari8306]

Can u plz explain how u converted the retained earning brought forward and what basis u followed

[@AccountingZerotoHero]

Sorry for the late reply! I somehow missed the notifications. The retained earnings do not get converted with a set rate. It is done through a rollforward of the historical converted balances of P&L. You need to do this to preserve the beginning balances of retained earnings every year.

[@josejohn1108]

this is super helpful! Thanks JP!

[@AccountingZerotoHero]

Oi Boggs! thanks you so much! I’m glad it was helpful!