Significant interompany loans that are required to be translated and will not be settled within 1 or 2 years can the revaluation be shown in the balance sheet
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ALL monetary assets and liabilities denominated in foreign currencies have to be translated at each balance sheet date. If that is what you mean by "can the revaluation be shown in the balance sheet" the answer is not only can it be but it must be.
There would be no point in a requirement to translate at a current rate if doing so had no impact on reported earnings or net assets.
If the loans are inter Co then this revaluation should reflect in hold Co the effect of lending currency to a GBP subsidiary, i.e. even if nothing else happens there is exposure to FX risk, either up or down, which is reflected in the P&L.