Definition of Special method of translation - Finance dictionary
Special method of translation(See Chapter 6 of the Vernimmen)
A special method of translation is used for subsidiaries located in hyperinflationary countries. The special method is based on restatements made by applying a general price index. Items such as Monetary items that are already stated at the measuring unit at the Balance sheet date are not restated. Other items are restated based on the change in the general price index between the date those items were acquired or incurred and the date of producing the consolidated accounts.
Special method of translation(See Chapter 6 of the Vernimmen)
A special method of translation is used for subsidiaries located in hyperinflationary countries. The special method is based on restatements made by applying a general price index. Items such as Monetary items that are already stated at the measuring unit at the Balance sheet date are not restated. Other items are restated based on the change in the general price index between the date those items were acquired or incurred and the date of producing the consolidated accounts.
Special method of translation(See Chapter 6 of the Vernimmen)
A special method of translation is used for subsidiaries located in hyperinflationary countries. The special method is based on restatements made by applying a general price index. Items such as Monetary items that are already stated at the measuring unit at the Balance sheet date are not restated. Other items are restated based on the change in the general price index between the date those items were acquired or incurred and the date of producing the consolidated accounts.
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