Determine which method is used ie temporal or current rate

Reference no: EM132479599

Point 1: In its 2017 annual report (note 19) Wesfarmers lists its overseas subsidiaries and their functional currencies. These include Bunnings (NZ) Ltd for which the functional currency is the New Zealand dollar (NZD), and KAS Global Trading Pty Ltd for which the functional currency is the Hong Kong dollar (HK$).

Problem 1: Discuss the translation process that will occur so that these subsidiaries can be included in the consolidated financial statements of Wesfarmers Ltd, which method is used ie temporal or current rate?

Reference no: EM132479599

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