Evaluate the performance of the New Zealand foreign

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Question - Atlanta Enterprises in Australia requires all foreign currency budgets to be set in Australian dollars (AUD) using exchange rates projected for the end of the budget period. Performance is monitored using projected exchange rates. Results at period's end are translated to Australian dollars at the actual end of period rate. At the start of the 2019 fiscal year, budgeted sales for a foreign affiliate in New Zealand were New Zealand dollars (NZD) 300,000. Actual sales for the year were NZD 320,000.

Relevant exchange rates for the New Zealand dollar during the year were as follows:

1 January, 2019 spot rate is AUD 0.92

Enterprise's projected exchange rate is AUD 0.98

31 December, 2019 spot rate is AUD 0.83

Required - Based on the above information evaluate the performance of the New Zealand foreign operation manager.

Reference no: EM132634694

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