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Foreign Currency Revaluation when Consolidating through Multiple Elimination Companies

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Posted on by Community Member Microsoft Employee

I am having an issue when trying to consolidate my foreign subsidiaries into my US parent company. There are two sub's, a CAD & a GBP. I am consolidating through two elimination companies, the 1st to convert CAD to USD and then that rolling the converted consolidated elimination company in USD & the GBP sub up to the 2nd elimination company where the GBP sub is convert to USD. I run the Foreign Currency Revaluation on each elimination company. The issue is on the 2nd elimination company. It is reversing the FX adjustment that was done at the 1st elimination company for CAD when I bring it up into the 2nd elimination company. I am not sure if this is correct, but it looks wrong and it makes the 1st CAD to USD elimination company consolidated balances not tie to the 2nd elimination company balances for that same company by the FX adjustment, where one was done.

Any help or insight would be helpful. Thank You.

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