Encountering different currencies within a group is more common than you think. It is therefore important to have the necessary knowledge at hand to deal with foreign currency routinely and confidently when creating your consolidated financial statements. This video-based self-study training aims to give you an initial overview of what to do when you have foreign currency companies. For this purpose, the training focuses on the translation of transactions at the average exchange rate or historical exchange rate.
Your benefits
You will learn:
- The theory behind best practices for currency translation in accordance with IFRS
- The initial steps to take in Lucanet when you have a foreign currency company
- What to consider in terms of fixation of equity at the time of initial consolidation, goodwill, and reclassification of net retained profits
- How to carry out currency translation on both levels, i.e. reporting entity and consolidation area
You can work through the material at your own pace and according to your own schedule.
Target group
This video self-study course is particularly suitable for refreshing your knowledge and training new employees.
Technical requirements
- Windows PC or Apple computer with sound system
- Internet connection (DSL connection is recommended)
- Speakers, headphones, or headset
Procedure
- We will provide you with preparatory information for the training in our Lucanet Learning Space (you will receive instructions with your booking confirmation).
- You are working with the software version Lucanet 25 (Download and installation of the Lucanet.Software Manager).
Note: The course is available for use in the Lucanet Learning Space for a maximum duration of 12 months. Once this period is up, you should have worked through all the learning modules, downloaded any learning material you want to keep, and completed the course.