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Jun 10, 2011 at 03:41 PM

Translating equity at the historic rate (BPC 7.5 NW)

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Hello,

For group reporting purposes, our accounting policy is to state our consolidated equity at historic rates. That means that net assets of all subsidiaries are translated to GBP at the closing rate and the income statememt of all non-GBP subsidiaries are translated at the yearly average rate. The equity for all non-GBP is not re-translated but the difference between the equity at the closing rate and the equity at the historic rate is posted to FCTR in reserves.

Anyone has any idea how to implement this in BPC?

Thank you.