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Answer Posted / pravin.llc
Revaluation: Revaluation is a Process of Finding Unrealised Gain or Unrealised Loss of the Liability or Asset account.
Ex: when a Org Purchases a Asset on credit, say in foreign currency through this process an organisation is able to know how much gain/loss incurred on that day.
Prerequsites:
Difine Unrealised Gain/Loss Account
Difine Currency Rates for Period End
Run Program Revaluation.
Translation: Translation is a Process of Converting Entries from Functional Currency to Foreign Currency
Prerequisites:
Difine Translation Adj Account
Ensure Previous Period is opened
Difine Currency Rates for Period Average type
Run Translation Program
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