Consolidating financial statements foreign currency

This method of is the most widely used currency translation method.The gains and losses associated with this translation are reported on a reserve account instead of the consolidated net income account.KPMG Bangalore, India May 26, 2016 ( in millions, except share and per share data, unless otherwise stated) Table - 06 *Includes 16,640,212, 14,829,824 and 14,829,824 treasury shares held as of March 31, 2014, 20 respectively by a controlled trust.The accompanying notes form an integral part of these consolidated financial statements.A method of foreign currency translation where most items in the financial statements are translated at the current exchange rate.The exception would be income statements items, which are translated at actual exchange rates.The Company’s American Depository Shares representing equity shares are also listed on the New York Stock Exchange.These consolidated financial statements were authorized for issue by the Audit Committee on May26, 2016. Basis of preparation of consolidated financial statements The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards and its interpretations (“IFRS”), as issued by the International Accounting Standards Board (“IASB”).

It is also more helpful for management, shareholders and creditors in evaluating a company because losses and gains resulting from the exchange rate are excluded for the consolidate earnings.Effective as of March31, 2013, the Group completed the demerger of its consumer care and lighting, infrastructure engineering and other non-IT business segments (collectively, the “Diversified Business”) into Wipro Enterprises (P) Limited (formerly Wipro Enterprises Limited), a company incorporated under the laws of India.Wipro is a public limited company incorporated and domiciled in India.Due to rounding off, the translated numbers presented throughout the document may not add up precisely to the totals.The preparation of the consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Estimates and underlying assumptions are reviewed on an ongoing basis.

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