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What is the difference between Currency Translation,
conversion and revaluation?
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Answer Posted / kim khan
Conversion refers to foreign currency transactions that are
immediately converted at the time of entry to the ledger
currency of the ledger in which the transaction takes place.
Revaluation adjusts assets or liability accounts that may be
understated or overstated at the end of a period due to
fluctuation in the exchange rate between the time the
transaction was entered and the end of the period.
Translation refers to the act of restating an entire ledger
of balances for a company from the ledger currency to a
foreign currency.
| Is This Answer Correct ? | 40 Yes | 8 No |
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