Foreign Exchange Rates

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Entry Format

When entering foreign exchange rates on the Unit Data page, the format should be the amount that one unit of Reporting Currency equals in Local Currency or Reporting Currency/Local Currency. For example, if reporting is USD and 1 USD equals .60 of another currency, the rate would be 1.666667 (1/.6).

 

Types

•Weighted Average Rates: Blended foreign exchange rate for a period of time that is applied to Income Statement Items.
•Spot Rates: Foreign Exchange Rate on a specific date that is applied to Balance Sheet Items.

 

Currency Translation Adjustment

The difference between Weighted Average Rate and Spot Rate, used when Income Statement items have an impact on Balance Sheet items.