Foreign operation translation file: rates, translation reserve, goodwill, tax and intragroup balances

• Foreign operation: functional currency, interest held and acquisition date

  Text

  FILIALE_BRITANNIQUE_DETENUE_EN_TOTALITE_EN_LIVRES_STERLING

• Presentation currency of the group

  Text

  EUR

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  120 %

• Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  115 %

• Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  118 %

• Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  110 %

• Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total assets in the operation's functional currency

  Number

  1,000,000

• Total liabilities in the operation's functional currency

  Number

  300,000

• Revenue of the period in functional currency

  Number

  900,000

• Ordinary expenses of the period in functional currency

  Number

  600,000

• Single expense to translate at the rate of its date

  Number

  100,000

• Opening equity in functional currency

  Number

  500,000

• Goodwill and fair value adjustments in the operation's functional currency

  Number

  190,000

• Same amount translated at the acquisition date rate (case data)

  Number

  209,000

• Amount restated under IAS 29 in functional currency (hyperinflationary economy)

  Number

• Intragroup monetary balance translated at the closing rate (case data)

  Number

• Carrying amount of the intragroup balance before the difference

  Number

• Translation or exchange difference subject to tax

  Number

• Tax rate given by the case (in %)

  Number

• Translation reserve: opening balance

  Number

  0

• Translation reserve: closing balance recorded

  Number

  82,000

• Translation difference of the period (net assets)

  Number

  63,000

• Translation difference of the period on goodwill and adjustments

  Number

  19,000

• Net investment difference taken to the reserve

  Number

• Tax effect taken to the reserve (to deduct)

  Number

• Share allocated to non-controlling interests (to deduct)

  Number

• Amount reclassified to profit or loss on disposal (to deduct)

  Number

• Share reattributed to non-controlling interests on a partial disposal (to deduct)

  Number

• Share of the reserve allocated to non-controlling interests (entry)

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §38IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Points reviewed: translation into the presentation currency

  ChecklistRequired

  • Presentation currency chosen by the entity; translation if it differs from the functional currency
  • Assets and liabilities at the closing rate of each statement of financial position
  • Income and expenses at the rates of the transaction dates
  • Average rate used as an approximation, judgement on fluctuations (no threshold)
  • Translation differences in other comprehensive income, accumulated in a separate component of equity
  • Goodwill and fair value adjustments treated as items of the operation and translated at the closing rate
  • Differences on intragroup monetary balances kept in consolidated profit or loss, except net investment
  • Different reporting date of the operation: adjustments for exchange movements between the dates
  • Tax effects of the differences dealt with under IAS 12 (rate given by the case)
  • Hyperinflationary economy: amounts restated under IAS 29 then translated at the latest closing rate

IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Assets translated at the closing rate

  CalculationRequired

  1,200,000

  Total assets in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Liabilities translated at the closing rate

  CalculationRequired

  360,000

  Total liabilities in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Revenue translated at the average rate

  CalculationRequired

  1,035,000

  Revenue of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Ordinary expenses translated at the average rate

  CalculationRequired

  690,000

  Ordinary expenses of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Single expense translated at the rate of its date

  Calculation

  118,000

  Single expense to translate at the rate of its date ; Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Equity translated at the historical rate

  CalculationRequired

  550,000

  Opening equity in functional currency ; Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference as a balancing figure (net assets translated less historical equity and translated result)

  CalculationRequired

  63,000

  Assets translated at the closing rate ; − Liabilities translated at the closing rate ; − Equity translated at the historical rate ; − Revenue translated at the average rate ; Ordinary expenses translated at the average rate ; Single expense translated at the rate of its date

• Goodwill and adjustments translated at the closing rate

  CalculationRequired

  228,000

  Goodwill and fair value adjustments in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference on goodwill (closing less acquisition date)

  CalculationRequired

  19,000

  Goodwill and adjustments translated at the closing rate ; − Same amount translated at the acquisition date rate (case data)

• Restated amounts translated at the latest closing rate

  CalculationRequired

  Amount restated under IAS 29 in functional currency (hyperinflationary economy) ; Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on an intragroup balance (excluding net investment)

  CalculationRequired

  0

  Intragroup monetary balance translated at the closing rate (case data) ; − Carrying amount of the intragroup balance before the difference

• Tax effect on the translation or exchange difference

  CalculationRequired

  Translation or exchange difference subject to tax ; Tax rate given by the case (in %)

• Translation reserve: closing balance recomputed

  CalculationRequired

  82,000

  Translation reserve: opening balance ; Translation reserve: closing balance recorded ; Translation difference of the period (net assets) ; Translation difference of the period on goodwill and adjustments ; Net investment difference taken to the reserve ; − Tax effect taken to the reserve (to deduct) ; − Share allocated to non-controlling interests (to deduct) ; − Amount reclassified to profit or loss on disposal (to deduct) ; − Share reattributed to non-controlling interests on a partial disposal (to deduct)

• Entry: translation difference on net assets taken to other comprehensive income

  Entry

  Account	Debit	Credit
  Net assets of the foreign operation	63,000
  Translation reserve		63,000

• Entry: translation difference on goodwill and adjustments

  Entry

  Account	Debit	Credit
  Goodwill	19,000
  Translation reserve		19,000

• Entry: exchange difference on an intragroup balance kept in profit or loss

  Entry

  Debit Intragroup receivable ← Exchange difference on an intragroup balance (excluding net investment) ; Credit Exchange gain ← Exchange difference on an intragroup balance (excluding net investment)

• Entry: tax effect of the difference taken to other comprehensive income

  Entry

  Debit Translation reserve ← Tax effect on the translation or exchange difference ; Credit Deferred tax liability ← Tax effect on the translation or exchange difference

• Entry: share of the reserve allocated to non-controlling interests

  Entry

  Debit Translation reserve ← Share of the reserve allocated to non-controlling interests (entry) ; Credit Non-controlling interests ← Share of the reserve allocated to non-controlling interests (entry)

IAS 21 §40IAS 21 §42

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation)

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

  PLAGE_ETROITE_DES_COURS_MENSUELS

• Hyperinflationary nature of the functional currency

  JudgmentRequired

  Currency not hyperinflationary / Hyperinflationary currency: restatement then latest closing rate

  Professional judgement: assessing whether an economy is hyperinflationary falls under IAS 29, outside the scope of this file; no numerical threshold is imposed here.

• Rationale for the hyperinflation assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §55

• Points to complete (statements presented in another currency for convenience)

  ChecklistRequired

  • Information presented as supplementary, distinguished from the information that complies with IFRS
  • Presentation currency and functional currency stated
  • Translation method stated

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on the average rate documentedPass
• Translation difference entry balancedPass
• Recomputed reserve equals recorded reservePass

Assets

82,000

Liabilities

0

Profit or loss

0

OCI

82,000

Equity

82,000

• Foreign operation: functional currency, interest held and acquisition date

  Text

  FILIALE_AMERICAINE_DETENUE_EN_TOTALITE_EN_DOLLARS

• Presentation currency of the group

  Text

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total assets in the operation's functional currency

  Number

• Total liabilities in the operation's functional currency

  Number

• Revenue of the period in functional currency

  Number

• Ordinary expenses of the period in functional currency

  Number

• Single expense to translate at the rate of its date

  Number

• Opening equity in functional currency

  Number

• Goodwill and fair value adjustments in the operation's functional currency

  Number

• Same amount translated at the acquisition date rate (case data)

  Number

• Amount restated under IAS 29 in functional currency (hyperinflationary economy)

  Number

• Intragroup monetary balance translated at the closing rate (case data)

  Number

  285,000

• Carrying amount of the intragroup balance before the difference

  Number

  270,000

• Translation or exchange difference subject to tax

  Number

  50,000

• Tax rate given by the case (in %)

  Number

  25 %

• Translation reserve: opening balance

  Number

  120,000

• Translation reserve: closing balance recorded

  Number

  237,500

• Translation difference of the period (net assets)

  Number

  80,000

• Translation difference of the period on goodwill and adjustments

  Number

• Net investment difference taken to the reserve

  Number

  50,000

• Tax effect taken to the reserve (to deduct)

  Number

  12,500

• Share allocated to non-controlling interests (to deduct)

  Number

• Amount reclassified to profit or loss on disposal (to deduct)

  Number

• Share reattributed to non-controlling interests on a partial disposal (to deduct)

  Number

• Share of the reserve allocated to non-controlling interests (entry)

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §38IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Points reviewed: translation into the presentation currency

  ChecklistRequired

  • Presentation currency chosen by the entity; translation if it differs from the functional currency
  • Assets and liabilities at the closing rate of each statement of financial position
  • Income and expenses at the rates of the transaction dates
  • Average rate used as an approximation, judgement on fluctuations (no threshold)
  • Translation differences in other comprehensive income, accumulated in a separate component of equity
  • Goodwill and fair value adjustments treated as items of the operation and translated at the closing rate
  • Differences on intragroup monetary balances kept in consolidated profit or loss, except net investment
  • Different reporting date of the operation: adjustments for exchange movements between the dates
  • Tax effects of the differences dealt with under IAS 12 (rate given by the case)
  • Hyperinflationary economy: amounts restated under IAS 29 then translated at the latest closing rate

IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Assets translated at the closing rate

  CalculationRequired

  Total assets in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Liabilities translated at the closing rate

  CalculationRequired

  Total liabilities in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Revenue translated at the average rate

  CalculationRequired

  Revenue of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Ordinary expenses translated at the average rate

  CalculationRequired

  Ordinary expenses of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Single expense translated at the rate of its date

  Calculation

  Single expense to translate at the rate of its date ; Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Equity translated at the historical rate

  CalculationRequired

  Opening equity in functional currency ; Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference as a balancing figure (net assets translated less historical equity and translated result)

  CalculationRequired

  Assets translated at the closing rate ; − Liabilities translated at the closing rate ; − Equity translated at the historical rate ; − Revenue translated at the average rate ; Ordinary expenses translated at the average rate ; Single expense translated at the rate of its date

• Goodwill and adjustments translated at the closing rate

  CalculationRequired

  Goodwill and fair value adjustments in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference on goodwill (closing less acquisition date)

  CalculationRequired

  Goodwill and adjustments translated at the closing rate ; − Same amount translated at the acquisition date rate (case data)

• Restated amounts translated at the latest closing rate

  CalculationRequired

  Amount restated under IAS 29 in functional currency (hyperinflationary economy) ; Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on an intragroup balance (excluding net investment)

  CalculationRequired

  15,000

  Intragroup monetary balance translated at the closing rate (case data) ; − Carrying amount of the intragroup balance before the difference

• Tax effect on the translation or exchange difference

  CalculationRequired

  12,500

  Translation or exchange difference subject to tax ; Tax rate given by the case (in %)

• Translation reserve: closing balance recomputed

  CalculationRequired

  237,500

  Translation reserve: opening balance ; Translation reserve: closing balance recorded ; Translation difference of the period (net assets) ; Translation difference of the period on goodwill and adjustments ; Net investment difference taken to the reserve ; − Tax effect taken to the reserve (to deduct) ; − Share allocated to non-controlling interests (to deduct) ; − Amount reclassified to profit or loss on disposal (to deduct) ; − Share reattributed to non-controlling interests on a partial disposal (to deduct)

• Entry: translation difference on net assets taken to other comprehensive income

  Entry

  Debit Net assets of the foreign operation ← Translation difference as a balancing figure (net assets translated less historical equity and translated result) ; Credit Translation reserve ← Translation difference as a balancing figure (net assets translated less historical equity and translated result)

• Entry: translation difference on goodwill and adjustments

  Entry

  Debit Goodwill ← Translation difference on goodwill (closing less acquisition date) ; Credit Translation reserve ← Translation difference on goodwill (closing less acquisition date)

• Entry: exchange difference on an intragroup balance kept in profit or loss

  Entry

  Account	Debit	Credit
  Intragroup receivable	15,000
  Exchange gain		15,000

• Entry: tax effect of the difference taken to other comprehensive income

  Entry

  Account	Debit	Credit
  Translation reserve	12,500
  Deferred tax liability		12,500

• Entry: share of the reserve allocated to non-controlling interests

  Entry

  Debit Translation reserve ← Share of the reserve allocated to non-controlling interests (entry) ; Credit Non-controlling interests ← Share of the reserve allocated to non-controlling interests (entry)

IAS 21 §40IAS 21 §42

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Hyperinflationary nature of the functional currency

  JudgmentRequired

  Currency not hyperinflationary / Hyperinflationary currency: restatement then latest closing rate

  Professional judgement: assessing whether an economy is hyperinflationary falls under IAS 29, outside the scope of this file; no numerical threshold is imposed here.

• Rationale for the hyperinflation assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §55

• Points to complete (statements presented in another currency for convenience)

  ChecklistRequired

  • Information presented as supplementary, distinguished from the information that complies with IFRS
  • Presentation currency and functional currency stated
  • Translation method stated

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on the average rate documentedNot filled in this instance
• Translation difference entry balancedNot evaluated
• Recomputed reserve equals recorded reservePass

Assets

15,000

Liabilities

12,500

Profit or loss

15,000

OCI

-12,500

Equity

2,500

• Foreign operation: functional currency, interest held and acquisition date

  Text

  GROUPE_AVEC_FILIALES_ETRANGERES_ET_PARTICIPATIONS_NE_DONNANT_PAS_LE_CONTROLE

• Presentation currency of the group

  Text

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total assets in the operation's functional currency

  Number

• Total liabilities in the operation's functional currency

  Number

• Revenue of the period in functional currency

  Number

• Ordinary expenses of the period in functional currency

  Number

• Single expense to translate at the rate of its date

  Number

• Opening equity in functional currency

  Number

• Goodwill and fair value adjustments in the operation's functional currency

  Number

• Same amount translated at the acquisition date rate (case data)

  Number

• Amount restated under IAS 29 in functional currency (hyperinflationary economy)

  Number

• Intragroup monetary balance translated at the closing rate (case data)

  Number

• Carrying amount of the intragroup balance before the difference

  Number

• Translation or exchange difference subject to tax

  Number

• Tax rate given by the case (in %)

  Number

• Translation reserve: opening balance

  Number

  500,000

• Translation reserve: closing balance recorded

  Number

  323,000

• Translation difference of the period (net assets)

  Number

  50,000

• Translation difference of the period on goodwill and adjustments

  Number

• Net investment difference taken to the reserve

  Number

• Tax effect taken to the reserve (to deduct)

  Number

• Share allocated to non-controlling interests (to deduct)

  Number

  40,000

• Amount reclassified to profit or loss on disposal (to deduct)

  Number

  160,000

• Share reattributed to non-controlling interests on a partial disposal (to deduct)

  Number

  27,000

• Share of the reserve allocated to non-controlling interests (entry)

  Number

  40,000

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §38IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Points reviewed: translation into the presentation currency

  ChecklistRequired

  • Presentation currency chosen by the entity; translation if it differs from the functional currency
  • Assets and liabilities at the closing rate of each statement of financial position
  • Income and expenses at the rates of the transaction dates
  • Average rate used as an approximation, judgement on fluctuations (no threshold)
  • Translation differences in other comprehensive income, accumulated in a separate component of equity
  • Goodwill and fair value adjustments treated as items of the operation and translated at the closing rate
  • Differences on intragroup monetary balances kept in consolidated profit or loss, except net investment
  • Different reporting date of the operation: adjustments for exchange movements between the dates
  • Tax effects of the differences dealt with under IAS 12 (rate given by the case)
  • Hyperinflationary economy: amounts restated under IAS 29 then translated at the latest closing rate

IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Assets translated at the closing rate

  CalculationRequired

  Total assets in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Liabilities translated at the closing rate

  CalculationRequired

  Total liabilities in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Revenue translated at the average rate

  CalculationRequired

  Revenue of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Ordinary expenses translated at the average rate

  CalculationRequired

  Ordinary expenses of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Single expense translated at the rate of its date

  Calculation

  Single expense to translate at the rate of its date ; Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Equity translated at the historical rate

  CalculationRequired

  Opening equity in functional currency ; Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference as a balancing figure (net assets translated less historical equity and translated result)

  CalculationRequired

  Assets translated at the closing rate ; − Liabilities translated at the closing rate ; − Equity translated at the historical rate ; − Revenue translated at the average rate ; Ordinary expenses translated at the average rate ; Single expense translated at the rate of its date

• Goodwill and adjustments translated at the closing rate

  CalculationRequired

  Goodwill and fair value adjustments in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference on goodwill (closing less acquisition date)

  CalculationRequired

  Goodwill and adjustments translated at the closing rate ; − Same amount translated at the acquisition date rate (case data)

• Restated amounts translated at the latest closing rate

  CalculationRequired

  Amount restated under IAS 29 in functional currency (hyperinflationary economy) ; Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on an intragroup balance (excluding net investment)

  CalculationRequired

  0

  Intragroup monetary balance translated at the closing rate (case data) ; − Carrying amount of the intragroup balance before the difference

• Tax effect on the translation or exchange difference

  CalculationRequired

  Translation or exchange difference subject to tax ; Tax rate given by the case (in %)

• Translation reserve: closing balance recomputed

  CalculationRequired

  323,000

  Translation reserve: opening balance ; Translation reserve: closing balance recorded ; Translation difference of the period (net assets) ; Translation difference of the period on goodwill and adjustments ; Net investment difference taken to the reserve ; − Tax effect taken to the reserve (to deduct) ; − Share allocated to non-controlling interests (to deduct) ; − Amount reclassified to profit or loss on disposal (to deduct) ; − Share reattributed to non-controlling interests on a partial disposal (to deduct)

• Entry: translation difference on net assets taken to other comprehensive income

  Entry

  Debit Net assets of the foreign operation ← Translation difference as a balancing figure (net assets translated less historical equity and translated result) ; Credit Translation reserve ← Translation difference as a balancing figure (net assets translated less historical equity and translated result)

• Entry: translation difference on goodwill and adjustments

  Entry

  Debit Goodwill ← Translation difference on goodwill (closing less acquisition date) ; Credit Translation reserve ← Translation difference on goodwill (closing less acquisition date)

• Entry: exchange difference on an intragroup balance kept in profit or loss

  Entry

  Debit Intragroup receivable ← Exchange difference on an intragroup balance (excluding net investment) ; Credit Exchange gain ← Exchange difference on an intragroup balance (excluding net investment)

• Entry: tax effect of the difference taken to other comprehensive income

  Entry

  Debit Translation reserve ← Tax effect on the translation or exchange difference ; Credit Deferred tax liability ← Tax effect on the translation or exchange difference

• Entry: share of the reserve allocated to non-controlling interests

  Entry

  Account	Debit	Credit
  Translation reserve	40,000
  Non-controlling interests		40,000

IAS 21 §40IAS 21 §42

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Hyperinflationary nature of the functional currency

  JudgmentRequired

  Hyperinflationary currency: restatement then latest closing rate

  Currency not hyperinflationary / Hyperinflationary currency: restatement then latest closing rate

  Professional judgement: assessing whether an economy is hyperinflationary falls under IAS 29, outside the scope of this file; no numerical threshold is imposed here.

• Rationale for the hyperinflation assessment

  Text

  ECONOMIE_DEVENUE_HYPERINFLATIONNISTE_EN_COURS_D_EXERCICE_DONNEE_DU_CAS

• Effect derived from the entries

  Table

IAS 21 §55

• Points to complete (statements presented in another currency for convenience)

  ChecklistRequired

  • Information presented as supplementary, distinguished from the information that complies with IFRS
  • Presentation currency and functional currency stated
  • Translation method stated

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on the average rate documentedNot filled in this instance
• Translation difference entry balancedNot evaluated
• Recomputed reserve equals recorded reservePass

Assets

0

Liabilities

0

Profit or loss

0

OCI

-40,000

Equity

0

• Foreign operation: functional currency, interest held and acquisition date

  Text

  FILIALE_NORVEGIENNE_DETENUE_EN_TOTALITE_EN_NOK

• Presentation currency of the group

  Text

  EUR

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  9.5 %

• Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  9.2 %

• Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  9 %

• Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total assets in the operation's functional currency

  Number

  20,000,000

• Total liabilities in the operation's functional currency

  Number

  6,000,000

• Revenue of the period in functional currency

  Number

  30,000,000

• Ordinary expenses of the period in functional currency

  Number

  27,000,000

• Single expense to translate at the rate of its date

  Number

• Opening equity in functional currency

  Number

  11,000,000

• Goodwill and fair value adjustments in the operation's functional currency

  Number

  2,000,000

• Same amount translated at the acquisition date rate (case data)

  Number

  180,000

• Amount restated under IAS 29 in functional currency (hyperinflationary economy)

  Number

• Intragroup monetary balance translated at the closing rate (case data)

  Number

• Carrying amount of the intragroup balance before the difference

  Number

• Translation or exchange difference subject to tax

  Number

• Tax rate given by the case (in %)

  Number

• Translation reserve: opening balance

  Number

  0

• Translation reserve: closing balance recorded

  Number

  94,000

• Translation difference of the period (net assets)

  Number

  64,000

• Translation difference of the period on goodwill and adjustments

  Number

  10,000

• Net investment difference taken to the reserve

  Number

  20,000

• Tax effect taken to the reserve (to deduct)

  Number

• Share allocated to non-controlling interests (to deduct)

  Number

• Amount reclassified to profit or loss on disposal (to deduct)

  Number

• Share reattributed to non-controlling interests on a partial disposal (to deduct)

  Number

• Share of the reserve allocated to non-controlling interests (entry)

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §38IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Points reviewed: translation into the presentation currency

  ChecklistRequired

  • Presentation currency chosen by the entity; translation if it differs from the functional currency
  • Assets and liabilities at the closing rate of each statement of financial position
  • Income and expenses at the rates of the transaction dates
  • Average rate used as an approximation, judgement on fluctuations (no threshold)
  • Translation differences in other comprehensive income, accumulated in a separate component of equity
  • Goodwill and fair value adjustments treated as items of the operation and translated at the closing rate
  • Differences on intragroup monetary balances kept in consolidated profit or loss, except net investment
  • Different reporting date of the operation: adjustments for exchange movements between the dates
  • Tax effects of the differences dealt with under IAS 12 (rate given by the case)
  • Hyperinflationary economy: amounts restated under IAS 29 then translated at the latest closing rate

IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Assets translated at the closing rate

  CalculationRequired

  1,900,000

  Total assets in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Liabilities translated at the closing rate

  CalculationRequired

  570,000

  Total liabilities in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Revenue translated at the average rate

  CalculationRequired

  2,760,000

  Revenue of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Ordinary expenses translated at the average rate

  CalculationRequired

  2,484,000

  Ordinary expenses of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Single expense translated at the rate of its date

  Calculation

  Single expense to translate at the rate of its date ; Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Equity translated at the historical rate

  CalculationRequired

  990,000

  Opening equity in functional currency ; Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference as a balancing figure (net assets translated less historical equity and translated result)

  CalculationRequired

  64,000

  Assets translated at the closing rate ; − Liabilities translated at the closing rate ; − Equity translated at the historical rate ; − Revenue translated at the average rate ; Ordinary expenses translated at the average rate ; Single expense translated at the rate of its date

• Goodwill and adjustments translated at the closing rate

  CalculationRequired

  190,000

  Goodwill and fair value adjustments in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference on goodwill (closing less acquisition date)

  CalculationRequired

  10,000

  Goodwill and adjustments translated at the closing rate ; − Same amount translated at the acquisition date rate (case data)

• Restated amounts translated at the latest closing rate

  CalculationRequired

  Amount restated under IAS 29 in functional currency (hyperinflationary economy) ; Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on an intragroup balance (excluding net investment)

  CalculationRequired

  0

  Intragroup monetary balance translated at the closing rate (case data) ; − Carrying amount of the intragroup balance before the difference

• Tax effect on the translation or exchange difference

  CalculationRequired

  Translation or exchange difference subject to tax ; Tax rate given by the case (in %)

• Translation reserve: closing balance recomputed

  CalculationRequired

  94,000

  Translation reserve: opening balance ; Translation reserve: closing balance recorded ; Translation difference of the period (net assets) ; Translation difference of the period on goodwill and adjustments ; Net investment difference taken to the reserve ; − Tax effect taken to the reserve (to deduct) ; − Share allocated to non-controlling interests (to deduct) ; − Amount reclassified to profit or loss on disposal (to deduct) ; − Share reattributed to non-controlling interests on a partial disposal (to deduct)

• Entry: translation difference on net assets taken to other comprehensive income

  Entry

  Account	Debit	Credit
  Net assets of the foreign operation	64,000
  Translation reserve		64,000

• Entry: translation difference on goodwill and adjustments

  Entry

  Account	Debit	Credit
  Goodwill	10,000
  Translation reserve		10,000

• Entry: exchange difference on an intragroup balance kept in profit or loss

  Entry

  Debit Intragroup receivable ← Exchange difference on an intragroup balance (excluding net investment) ; Credit Exchange gain ← Exchange difference on an intragroup balance (excluding net investment)

• Entry: tax effect of the difference taken to other comprehensive income

  Entry

  Debit Translation reserve ← Tax effect on the translation or exchange difference ; Credit Deferred tax liability ← Tax effect on the translation or exchange difference

• Entry: share of the reserve allocated to non-controlling interests

  Entry

  Debit Translation reserve ← Share of the reserve allocated to non-controlling interests (entry) ; Credit Non-controlling interests ← Share of the reserve allocated to non-controlling interests (entry)

IAS 21 §40IAS 21 §42

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation)

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

  PLAGE_ETROITE_DES_COURS_MENSUELS

• Hyperinflationary nature of the functional currency

  JudgmentRequired

  Currency not hyperinflationary / Hyperinflationary currency: restatement then latest closing rate

  Professional judgement: assessing whether an economy is hyperinflationary falls under IAS 29, outside the scope of this file; no numerical threshold is imposed here.

• Rationale for the hyperinflation assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §55

• Points to complete (statements presented in another currency for convenience)

  ChecklistRequired

  • Information presented as supplementary, distinguished from the information that complies with IFRS
  • Presentation currency and functional currency stated
  • Translation method stated

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on the average rate documentedPass
• Translation difference entry balancedPass
• Recomputed reserve equals recorded reservePass

Assets

74,000

Liabilities

0

Profit or loss

0

OCI

74,000

Equity

74,000

• Foreign operation: functional currency, interest held and acquisition date

  Text

  FILIALE_EN_ECONOMIE_HYPERINFLATIONNISTE

• Presentation currency of the group

  Text

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  0.05 %

• Total assets in the operation's functional currency

  Number

• Total liabilities in the operation's functional currency

  Number

• Revenue of the period in functional currency

  Number

• Ordinary expenses of the period in functional currency

  Number

• Single expense to translate at the rate of its date

  Number

• Opening equity in functional currency

  Number

• Goodwill and fair value adjustments in the operation's functional currency

  Number

• Same amount translated at the acquisition date rate (case data)

  Number

• Amount restated under IAS 29 in functional currency (hyperinflationary economy)

  Number

  80,000,000

• Intragroup monetary balance translated at the closing rate (case data)

  Number

• Carrying amount of the intragroup balance before the difference

  Number

• Translation or exchange difference subject to tax

  Number

• Tax rate given by the case (in %)

  Number

• Translation reserve: opening balance

  Number

• Translation reserve: closing balance recorded

  Number

• Translation difference of the period (net assets)

  Number

• Translation difference of the period on goodwill and adjustments

  Number

• Net investment difference taken to the reserve

  Number

• Tax effect taken to the reserve (to deduct)

  Number

• Share allocated to non-controlling interests (to deduct)

  Number

• Amount reclassified to profit or loss on disposal (to deduct)

  Number

• Share reattributed to non-controlling interests on a partial disposal (to deduct)

  Number

• Share of the reserve allocated to non-controlling interests (entry)

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §38IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Points reviewed: translation into the presentation currency

  ChecklistRequired

  • Presentation currency chosen by the entity; translation if it differs from the functional currency
  • Assets and liabilities at the closing rate of each statement of financial position
  • Income and expenses at the rates of the transaction dates
  • Average rate used as an approximation, judgement on fluctuations (no threshold)
  • Translation differences in other comprehensive income, accumulated in a separate component of equity
  • Goodwill and fair value adjustments treated as items of the operation and translated at the closing rate
  • Differences on intragroup monetary balances kept in consolidated profit or loss, except net investment
  • Different reporting date of the operation: adjustments for exchange movements between the dates
  • Tax effects of the differences dealt with under IAS 12 (rate given by the case)
  • Hyperinflationary economy: amounts restated under IAS 29 then translated at the latest closing rate

IAS 21 §39IAS 21 §40IAS 21 §41IAS 21 §42IAS 21 §44IAS 21 §47IAS 21 §50

• Assets translated at the closing rate

  CalculationRequired

  Total assets in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Liabilities translated at the closing rate

  CalculationRequired

  Total liabilities in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Revenue translated at the average rate

  CalculationRequired

  Revenue of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Ordinary expenses translated at the average rate

  CalculationRequired

  Ordinary expenses of the period in functional currency ; Average rate of the period given by the case (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Single expense translated at the rate of its date

  Calculation

  Single expense to translate at the rate of its date ; Rate of the date of a single transaction (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Equity translated at the historical rate

  CalculationRequired

  Opening equity in functional currency ; Historical rate for equity (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference as a balancing figure (net assets translated less historical equity and translated result)

  CalculationRequired

  Assets translated at the closing rate ; − Liabilities translated at the closing rate ; − Equity translated at the historical rate ; − Revenue translated at the average rate ; Ordinary expenses translated at the average rate ; Single expense translated at the rate of its date

• Goodwill and adjustments translated at the closing rate

  CalculationRequired

  Goodwill and fair value adjustments in the operation's functional currency ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Translation difference on goodwill (closing less acquisition date)

  CalculationRequired

  Goodwill and adjustments translated at the closing rate ; − Same amount translated at the acquisition date rate (case data)

• Restated amounts translated at the latest closing rate

  CalculationRequired

  40,000

  Amount restated under IAS 29 in functional currency (hyperinflationary economy) ; Latest closing rate (hyperinflationary economy; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on an intragroup balance (excluding net investment)

  CalculationRequired

  0

  Intragroup monetary balance translated at the closing rate (case data) ; − Carrying amount of the intragroup balance before the difference

• Tax effect on the translation or exchange difference

  CalculationRequired

  Translation or exchange difference subject to tax ; Tax rate given by the case (in %)

• Translation reserve: closing balance recomputed

  CalculationRequired

  Translation reserve: opening balance ; Translation reserve: closing balance recorded ; Translation difference of the period (net assets) ; Translation difference of the period on goodwill and adjustments ; Net investment difference taken to the reserve ; − Tax effect taken to the reserve (to deduct) ; − Share allocated to non-controlling interests (to deduct) ; − Amount reclassified to profit or loss on disposal (to deduct) ; − Share reattributed to non-controlling interests on a partial disposal (to deduct)

• Entry: translation difference on net assets taken to other comprehensive income

  Entry

  Debit Net assets of the foreign operation ← Translation difference as a balancing figure (net assets translated less historical equity and translated result) ; Credit Translation reserve ← Translation difference as a balancing figure (net assets translated less historical equity and translated result)

• Entry: translation difference on goodwill and adjustments

  Entry

  Debit Goodwill ← Translation difference on goodwill (closing less acquisition date) ; Credit Translation reserve ← Translation difference on goodwill (closing less acquisition date)

• Entry: exchange difference on an intragroup balance kept in profit or loss

  Entry

  Debit Intragroup receivable ← Exchange difference on an intragroup balance (excluding net investment) ; Credit Exchange gain ← Exchange difference on an intragroup balance (excluding net investment)

• Entry: tax effect of the difference taken to other comprehensive income

  Entry

  Debit Translation reserve ← Tax effect on the translation or exchange difference ; Credit Deferred tax liability ← Tax effect on the translation or exchange difference

• Entry: share of the reserve allocated to non-controlling interests

  Entry

  Debit Translation reserve ← Share of the reserve allocated to non-controlling interests (entry) ; Credit Non-controlling interests ← Share of the reserve allocated to non-controlling interests (entry)

IAS 21 §40IAS 21 §42

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Hyperinflationary nature of the functional currency

  JudgmentRequired

  Hyperinflationary currency: restatement then latest closing rate

  Currency not hyperinflationary / Hyperinflationary currency: restatement then latest closing rate

  Professional judgement: assessing whether an economy is hyperinflationary falls under IAS 29, outside the scope of this file; no numerical threshold is imposed here.

• Rationale for the hyperinflation assessment

  Text

  ECONOMIE_HYPERINFLATIONNISTE_DONNEE_DU_CAS

• Effect derived from the entries

  Table

IAS 21 §55

• Points to complete (statements presented in another currency for convenience)

  ChecklistRequired

  • Information presented as supplementary, distinguished from the information that complies with IFRS
  • Presentation currency and functional currency stated
  • Translation method stated

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on the average rate documentedNot filled in this instance
• Translation difference entry balancedNot evaluated
• Recomputed reserve equals recorded reserveNot evaluated

Assets

0

Liabilities

0

Profit or loss

0

OCI

0

Equity

0