When do I use historical rates?
Use historical rates to:
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Calculate balances for equity and investment in subsidiary accounts.
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Stabilize translated balances for long-term accounts.
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Remeasure specific historical account balances with highly inflationary currencies in accordance with United States FASB Financial Accounting Standard 8.
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Provide a weighted average rate for transactions that occur at different times.
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Report journal entry line amounts in the units of money that were current at the time the transactions took place.
Note:
Define historical rates before running translation to avoid having to retranslate your balances.