Foreign currency translation definition

Foreign currency translation. The accounting records of the Company are maintained in United States dollars. Monetary assets and liabilities in a foreign currency are translated into United States dollars at the prevailing rates of exchange at year end. Revenue receipts and expense payments are translated into United States dollars at the prevailing exchange rate on the respective dates of transactions. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84. All amounts are CI Dollars (‘000) unless otherwise noted.
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Foreign currency translation means the period-over-period impact of foreign currency translation, which is calculated by applying current-year foreign exchange rates to the various functional currencies in our business to our reporting currency of US dollars for the same period in the prior year.
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Foreign currency translation. The accounting records of the Company are maintained in United States dollars. The Budget has been prepared in Cayman Islands Dollars. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84.
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Examples of Foreign currency translation in a sentence

  • Foreign currency translation gains (losses) on investments and income transactions are included in Net realized gain (loss) on foreign currency and in Income, respectively, on the Statements of Comprehensive Income.

  • Foreign currency translation gains (losses) on investments and income transactions are included in Net realized gain (loss) on foreign currency on the Statements of Comprehensive Income.

  • Foreign currency translation reserve The foreign currency translation reserve represents translation differences arising on consolidation of financial statements of foreign subsidiaries.

  • Foreign currency translation reserveThe foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of foreign subsidiaries.

  • Foreign currency translation gains (losses) on investments and income transactions are included in Net realized gain (loss) on foreign currency and in Income, respectively, on the Statements of Operations.

  • Foreign currency translation differences are recognized in profit or loss, except for differences on the retranslation of available-for-sale instruments, which are recognized in other comprehensive loss.

  • Foreign currency translation differences are recognized in profit or loss.

  • Foreign currency translation gains and losses that result from the daily revaluation of foreign currency denominated investments are reported as “Other items of income (loss): System Open Market Account: Foreign currency translation losses, net” in the Statements of Operations.

  • Foreign currency translation (1) Functional and presentation currencyItems included in the Company's financial statements are measured using the currency of the primary economic environment in which the entity operates ('the functional currency').

  • Any exchange differences arising on translation are taken directly to the Foreign currency translation reserve in equity.


More Definitions of Foreign currency translation

Foreign currency translation using the exchange rate prevailing at the balance sheet date. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the determination of income. Foreign currency transactions are primarily undertaken in Canadian dollars. The Company has not, to the date of these financials statements, entered into derivative instruments to offset the impact of foreign currency fluctuations.
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Foreign currency translation. Balance sheet accounts are translated at the exchange rate in effect at each year-end and income accounts are translated at the average rates of exchange prevailing during the year. The national currencies of the foreign companies are generally the functional currencies. Gains 32 ITT INDUSTRIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) DOLLARS IN MILLIONS, EXCEPT PER SHARE, UNLESS OTHERWISE STATED (losses) from foreign currency transactions are reported currently in other operating expenses and were $(4), $4, and $8 in 1995, 1994, and 1993, respectively.
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Foreign currency translation. The accounting records of the Company are maintained in United States dollars. The Budget has been prepared in Cayman Islands Dollars. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84. Sale of Outputs to Cabinet 9,851,000 9,851,000 Passenger (sched) 3 40,453,000 41,244,000 Cargo 4 4,860,000 3,620,000 Passenger (Charter) 5 721,000 487,000 Handling 6 1,599,000 1,368,000 Other 7 617,000 512,000 Salaries 8 14,720,000 13,164,000 Benefits & Other Staff Costs 9 3,319,000 3,268,000 Fuel & Oil 10 13,647,000 14,045,000 Maintenance Reserves 11 2,588,000 2,860,000 Landing & Parking Fees 12 1,613,000 1,617,000 Aircraft Services 13 6,660,000 6,741,000 Meal & Beverage 14 804,000 861,000 Commissions & CC 15 3,044,000 3,213,000 Navigation & Overfly 16 929,000 911,000 Other Maintainence 17 2,453,000 2,646,000 Aircraft Rental 18 2,983,000 2,688,000 Facilities Rental 19 488,000 643,000 Communications 20 885,000 1,268,000 Depreciation 21 2,067,000 1,911,000 General & Admin 22 1,441,000 1,600,000 Advertising & Promo 23 1,038,000 1,000,000 Customs 24 333,000 370,000 Other 25 1,885,000 1,894,000 Financing expense 26 1,919,000 1,596,000 Gains/(losses) on foreign exchange transactions - - Other Non-Operating revenues or expenses - - Extraordinary expenses - - Opening balance net worth (32,318,000) (27,106,000) Net Surplus (4,716,000) (5,212,000) Cash and cash equivalents 1,434,000 2,111,000 Accounts receivable 6,300,000 5,628,000 Prepaid Expenses 1,344,000 1,333,000 Parts Held for Resale 38,000 38,000 Property, plant and equipment 14,652,000 14,015,000 Other non-current assets - Bank Overdraft Accounts payable 11,760,000 12,217,000 Unearned Transpo Liability 5,880,000 5,880,000 Unearned Subsidy - Current Portion of LTD 2,688,000 2,544,000 Borrowings 34,614,000 31,496,000 Maintenance Reserve 4,516,000 3,306,000 Contributed Capital 58,939,000 58,939,000 Asset revaluation reserve - Accumulated surpluses (95,973,000) (91,257,000) Net Income (4,716,000) (5,212,000) Depreciation 2,067,000 1,911,000 Reserves 1,210,000 1,702,000 Current Assets 661,000 103,000 Subsidy Current Liabilities (313,000) (2,355,000) Purchase of non-current assets (2,705,000) (7,292,000) Repayment of borrowings 3,119,000 6,334,000 Cash and cash equivalents at beginning of period 2,111,000 6,920,000 The Budget represents the expected results for the year ending June 30th, 2007. The estimations are based on the strategic plan for the airline and management’s b...
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Foreign currency translation. The accounting records of the Company are maintained in United States dollars. The Budget has been prepared in Cayman Islands Dollars. The rate of exchange between United States dollars and Cayman Islands Dollars is fixed at US$1.00: CI$0.84. • Sale of Outputs (Goods & Services) to Ministries/Portfolios, SAs & GCs 1,530,000 Sale of Outputs (goods and services) to Others 37,335,000 Other operating revenue 214,000 Personnel costs 16,061,000 Supplies and consumables 10,469,000 Depreciation 1,536,000 Other operating expenses 21,614,000 Financing expense (1,361,000) Extraordinary items 0 Opening balance net worth -26,199,000 Net Surplus (11,962,000) Property revaluations 0 Investment revaluations 0 Net revaluations during the period 0 Total recognised revenues and expenses (11,962,000) Equity Contributions (made into this org) 7,000,000 Capital Withdrawal (made from this org) 0 Repayment of Surplus (made by this org) 0 Cash and cash equivalents 660,000 Accounts receivable 5,866,000 Other current assets 25,000 Property, plant and equipment 11,662,000 Other non-current assets 0 Accounts payable 8,515,000 Unearned revenue 4,033,000 Other current liabilities 2,520,000 Borrowings 31,745,000 Other non-current liabilities 2,561,000 Contributed Capital 55,455,000 Accumulated surpluses (86,616,000) Sale of Outputs (Goods & Services) to Ministries/Portfolios, SAs & GCs 1,530,000 Sale of Outputs (goods and services) to Others 37,335,000 Interest received (840,000) Other receipts 470,000 Personnel costs (16,061,000) Suppliers (11,170,000) Interest paid (1,361,000) Other payments (19,053,000) Purchase of non-current assets (3,104,000) Purchase of investments 0 Equity Contributions 7,000,000 Proceeds from borrowings 8,000,000 Repayment of borrowings (2,334,000) Cash and cash equivalents at beginning of period 248,000 CKX C Check 420 CAL C Check - CYB C Check - New Acft Check 420 RVSM 168 CYB #1 Engine ESV2 420 Unspecified Engine 311 Unspecified Engine - CKX #1 Engine ESV1 252 IT Upgrade Project 186 Transitional - Other Capital Assets 202 Rotables 726 The Budget represents the expected results for the year ending June 30th, 2005. The estimations are based upon the strategic plan for the airline and management’s best estimates of the future events. Actual results will differ from estimates and the differences could be significant. The budget includes the results of Cayman Airways and Cayman Airways Express. Cayman Airways Express is the wholly-owned subsidiary of Cayman Airway...
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Foreign currency translation means the difference of exchange rates resulting from translation of financial statements denominated in foreign currency of foreign operations. Foreign operations are subsidiaries, associates, joint ventures or branches of a reporting bank, where there are activities or businesses in other countries or currencies than that of the reporting bank. This shall be in accordance with relevant accounting standards and financial reporting standards.
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Foreign currency translation shall not be taken into account in calculating Consolidated Net Worth.
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Related to Foreign currency translation

  • Foreign Currency means any currency other than the currency of Kenya;

  • Reference Currency means the currency specified as such in the applicable Final Terms.

  • Currency Pair means the object or Underlying Asset of a CFD Transaction based on the change in the value of one currency against the other. A Currency Pair consists of two currencies (the Quote Currency and the Base Currency) and shows how much of the Quote currency is needed to purchase one unit of the Base Currency.

  • Agreed Foreign Currency means, at any time, any of English Pounds Sterling, euro and, with the agreement of each Lender, any other Foreign Currency, so long as, in respect of any such specified Currency or other Foreign Currency, at such time (a) such Currency is dealt with in the London interbank deposit market, (b) such Currency is freely transferable and convertible into Dollars in the London foreign exchange market and (c) no central bank or other governmental authorization in the country of issue of such Currency (including, in the case of the euro, any authorization by the European Central Bank) is required to permit use of such Currency by any Lender for making any Loan hereunder and/or to permit the Borrower to borrow and repay the principal thereof and to pay the interest thereon, unless such authorization has been obtained and is in full force and effect.

  • Currency means any currency or currencies, composite currency or currency unit or currency units, including, without limitation, the Euro, issued by the government of one or more countries or by any recognized confederation or association of such governments.

  • Alternative Currency means each of Euro, Sterling, Yen and each other currency (other than Dollars) that is approved in accordance with Section 1.06.

  • Balance Currency means the currency that the trading account is denominated in and all charges including spreads, commissions and swaps, are calculated in that currency.

  • Canadian Dollar Equivalent of any amount which is expressed in United States Dollars means, on any date, the Canadian dollar equivalent of such amount determined by multiplying such amount by the U.S. - Canadian Exchange Rate in effect on such date;

  • Base Currency means the first currency in the Currency Pair against which the Client buys or sells the Quote Currency.