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Cumulative Translation Adjustment (CTA) - FASB Statement 52. Would like to discuss How does NAV/B.C. handle this consolidation entry?

  • 1.  Cumulative Translation Adjustment (CTA) - FASB Statement 52. Would like to discuss How does NAV/B.C. handle this consolidation entry?

    SILVER CONTRIBUTOR
    Posted 17 days ago
    #ControlsandCompliance. If anyone has experience and procedures on setup required in the consolidation company I would like to know of any tips on how to setup properly.

    The cumulative translation adjustment (CTA) for a currency translation adjustment is an entry in the "Accumulated Other Comprehensive Income" section of the translated balance sheet, reflecting gains and losses caused by exchange rate fluctuations over the years.

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    David Cameron
    Microsoft Financial Consultant
    Templer Group
    ANCASTER ON
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  • 2.  RE: Cumulative Translation Adjustment (CTA) - FASB Statement 52. Would like to discuss How does NAV/B.C. handle this consolidation entry?

    NAVUG ALL STAR
    Posted 17 days ago
    @David Cameron

    NAV\BC handles translation during the consolidation process very nicely. The majority of the setup is done on the G\L Account Card (Consolidation Fast Tab), Business Units (define CTA accounts here) and Currency Cards. You need to have a separate consolidation company where all separate business units are consolidated into. If you search for (FIN60) Consolidations and (FIN79) Consolidations Challenges and Solutions you'll find my presentation on it and @Barbara Thompson's presentation on consolidations in NAV.

    Let me know if you have any other questions.​

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    Amanda Mayer
    New View Strategies
    Milwaukee WI
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  • 3.  RE: Cumulative Translation Adjustment (CTA) - FASB Statement 52. Would like to discuss How does NAV/B.C. handle this consolidation entry?

    SILVER CONTRIBUTOR
    Posted 15 days ago
    Thank you for the response @Amanda Mayer.  I searched NAVUG for the presentations but they did not appear as results which is strange - it is entirely possible I am not searching properly as I am relatively new to the group and still finding my way on the portal setup/organization.   I would like to review your materials as I think they will definitely be interesting and a great benefit.  If you would be so kind as to email them to me I would really appreciate that.  My email address is dcameron@templergroup.com.

    Have a nice Labor Day long weekend @Amanda Mayer​​​​

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    David Cameron
    Microsoft Financial Consultant
    Templer Group
    ANCASTER ON
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