Nothing lost in conversion

Foreign exchange and currency translations become issues for entities when they conduct business through a foreign operation, such as a subsidiary, associate company, branch or joint venture or where entities enter into transactions denominated in foreign currencies.

The different types of currency translations include:

• Converting many currencies to a single currency
• Converting a single source currency to many currencies
• Converting many currencies to many other currencies

OLAP Office™ is fully aware of the different currency translation approaches adopted within the Microsoft Analysis Services (OLAP) environment. However, the approach adopted by OLAP Office™ is by far the most flexible and efficient approach in the Analysis Services environment.

For example, with one formula, OLAP Office™ can translate any combination of world-wide currencies into a base reporting currency, with translation taking place using either spot, forward, average or closing exchange rates. The reporting currency can in turn be translated into any other currency.

Features include:

• Translation of income statement accounts at the average exchange rate
• Translation of the balance sheet at the closing rate of exchange
• Automatic calculation of "exchange differences" or "translation adjustments"
• Retranslation of the base reporting currency into any other currency
• Translation of any currency, including the European Monetary Unit
• Maintenance of exchange rates for all world-wide currencies
• Maintenance of actual, budget and forecast exchange rates and the translation of any foreign currencies using the respective rates
• Updating an exchange rate automatically updates any calculated translations immediately
• Translation of foreign transactions into the required base currency