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Translation of Financial Statements in Other Currency according to IFRS because of Business Combination
[Převod účetní závěrky na jinou měnu podle IFRS pro potřeby mezinárodních podnikových kombinací]

Author

Listed:
  • Marie Zelenková

Abstract

Translation of financial reports into other currency is inconsistent area of financial reporting. There are lots of ways of such translation. This paper deals with classification of methods of translation of financial reports into other currency and also deal with development of IFRS approach in this. An entity is required to translate its financial statements (i.e. results and financial position) from its functional currency into a presentation currency (or currencies) using the method required for translating a foreign operation for inclusion in the reporting entity's financial statements. Exchange differences arising on translating financial statements in other currency. This paper deals also with reporting of this exchange differences.

Suggested Citation

  • Marie Zelenková, 2010. "Translation of Financial Statements in Other Currency according to IFRS because of Business Combination [Převod účetní závěrky na jinou měnu podle IFRS pro potřeby mezinárodních podnikových kombina," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2010(4), pages 42-52.
    • Handle: RePEc:prg:jnlcfu:v:2010:y:2010:i:4:id:85:p:42-52
    DOI: 10.18267/j.cfuc.85
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    Keywords

    Functional currency; Reporting currency; Business combination; Translation of financial reports into other currency; Presentation currency; Funkční měna; Měna použitá pro vykazování; Podnikové kombinace; Převod účetní závěrky na jinou měnu; Vykazovací měna;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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