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Financial statements converted to US dollars
Your parent company does not consolidate in pesos. If the financial statement arrives only in local currency, someone in the United States or in Japan rebuilds it, and that work gets paid for twice and reviewed once.
- Conversion of the financial statements from Mexican pesos to US dollars under US GAAP, for consolidation with the parent company
- Your parent company's consolidation format, if it has one
Which exchange rate
It depends on the line item, under ASC 830 (FASB 52).
The currency effect, kept separate
Variation from the exchange rate is identified separately in the income statement.
