Aberystwyth University ASL Airlines Hungary Currency Translation Worksheet

Use the following rates for your company currency translation assignment:

Balance sheet:

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Current Assets > year-end rate

Property Plant and Equipment > year-end from 10 years ago

Current Liabilities > year-end rate

Long-Term Liabilities > use year-end rate from 10 years ago

Equity > use year-end rate from 10 years ago

Retained Earnings > average of year-end rates for 5 years

Translation Adjustment Line = difference between total assets – total liabilities- equity-retained earnings

Income Statement:

Income > 12-month average

Expenses > 12-month average