Difference between consolidated consolidating financial statements
Based on the parent’s relationship with its foreign subsidiary, the translation method attempts to reflect the parent’s exposure to exchange rate changes.
If the parent actively participates in the subsidiary’s operating, investing, and financing activities, the subsidiary is integrated.
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You can also specify the account in the consolidated company to which exchange differences are posted.
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However, if you’re using Dynamics AX, the system can do that for you so you can use the exchange rate in effect on the transaction date rather than an average rate.
There are two options for addressing financial statement translation with Dynamics AX: In can be done in Management Reporter or through the Consolidate function in the General Ledger module.
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The temporal method should be used to do the currency translation.