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okay so hello my dear students welcome to another discussion for translation of foreign currency afford and current diversion statements okay so our translation of foreign subsidiaries financial statement so in this video i shall be discussing in particular current rate method so lets have another discussion for um the temporal method okay so we have here now assume that january 2014 ump company a philippine based company award for 2 million us dollar an 80 interest in s companies no who maintains it books and us dollars and they are in conformity with gaap okay in the philippines so the parents functional currency and the presentation currency is actually the philippine peso okay so since a philippine based company naman parent so as companies special statements are prepared in the local currency you need meaning to see the us dollars or the foreign currency unit dollars okay so the translation process will be illustrated under two different assumptions again so in this video we shal