Currency translation methods for consolidating financial statements

13-Jun-2020 11:45

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The management wants the business unit’s dimension values to be transferred as well. differ from the dimensions used in the parent company.In order for these dimensions to be transferred during consolidation, the Consolidation Code must be specified for dimension values codes that differ in the business unit company.The ease of communication and speed of logistic flows has smoothened the distance barriers for the modern business.Businesses control offices and divisions that can be scattered across the regions, countries and, in so many cases, across the globe.In this article, we will review the fundamentals of financial statements consolidation process in Microsoft Dynamics NAV.

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We will use Local (consolidation company) currency exchange rate table.We will not concentrate on the legal and accounting aspects, but rather try to review the Microsoft Dynamics NAV role in this process.

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