Just BS - revalue at spot rate to functional currency. P&L is converted using weighted average for the month or actual rate when transaction occurred. Remember P&L is the impact when transaction happened whereas BS is a point in time and needs to be updated as time passes.
Want to reply to this thread or ask your own question?
You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.