Currency Translator, Revaluation

Currency Translator distinguishes between actual increases and decreases in balance sheet accounts and period-to-period changes caused by currency fluctuations. For example:

Cash

2003

2004

Cash

$100

$150

Increase in cash

$50

If you translate the preceding dollar amounts to French Francs using these exchange rates:

YearExchange

2003

4 FF per $1

2004

5 FF per $1

After translation, the data is:

Amount

2003

2004

Cash

FF400

FF750

Increase in cash

FF250 ($50 x 5)

After translation, the increase in cash is incorrect because of the currency fluctuation—it should be FF350. Currency Translator adjusts for the fluctuation, in this case adding FF100, and notes the adjustment value in the Adjustment To Cash (v2000.04.000) account.

Most balance sheet accounts must be adjusted similarly, and adjustment values recorded in additional .04 accounts. Currency Translator sometimes makes different adjustments—see Currency Translator, Translation Adjustment.