Foreign exchange

Longview automatically translates source currencies to multiple reporting currencies as data is loaded.

• Translation Rates are entered or imported on a monthly basis
• Longview provides the ability to manage currencies and translation settings using an easy to use graphical user interface
• Currency related symbols require the Longview standard naming convention
• Longview standard set up assumes one functional currency per entity
• Longview calculations are defined as follows:
  • Current: Translate the current YTD balance using the effective rate
  • Historical: Translate the current activity using the effective rate + translated YTD value of prior period
  • Effective Rate – the rate that was used to translate the account in the period. This could be the rate as specified in the account translation table (Period Average or Period End) or an override rate.
• Translation Methods include:
  • Self-Sustaining (translation adjustment posted to the Balance Sheet)
    • Assets: Current
    • Liabilities: Current
    • Equity: Historical
    • Profit & Loss: Historical
  • Integrated (translation gain/loss posted in the Income Statement)
    • Current Assets: Current
    • Long-term Assets: Historical
    • Current Liabilities: Current
    • Long-term Liabilities: Historical
    • Equity: Historical
    • Profit & Loss: Historical
• Functional and Translated data is easily viewed through all Longview reporting options
• Longview supports tiered Translation (i.e. where GBP is translated to EUR then to USD)
• Longview supports translation of Actual Data at various rates for performance reporting - Actual @ Actual Rates, Actual @ Budget Rates and Actual @ Prior Year Rates.