Non-Profit
Foreign Currency Translation — Field Office
Translating a field office's monthly activity from USD to JOD for consolidation.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Program Expense (Translated) | Expense (+) | 14,200.00 | - |
| FX Translation Adjustment (OCI) | Equity (+/-) | - | 200.00 |
| Cash / Intercompany Payable (USD) | Asset/Liability (-) | - | 14,000.00 |
💡 Accountant's Note
Field offices report in their local currency. At consolidation, exchange rate differences between the transaction date and reporting date create a cumulative translation adjustment recorded in net assets.
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