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This excerpt taken from the ICI 6-K filed Mar 21, 2007. Foreign currencies Assets and liabilities are translated at exchange rates ruling at the date of the Company balance sheet. Exchange differences on foreign currency borrowings and deposits are included within net interest payable. Exchange differences on all other balances are taken to operating profit.
This excerpt taken from the ICI 20-F filed Apr 1, 2005. Foreign currencies Profit and loss accounts in foreign currencies are translated into sterling at average rates for the relevant accounting periods. Assets and liabilities are translated at exchange rates ruling at the date of the Group balance sheet. Exchange differences on short-term foreign currency borrowings and deposits are included within net interest payable. Exchange differences on all other balances, except relevant foreign currency loans, are taken to operating profit. In the Group accounts, exchange differences arising on consolidation of the net investments in overseas subsidiary undertakings and associates are taken to reserves, as are differences arising on equity investments denominated in foreign currencies in the Company accounts. Differences on relevant long-term foreign currency loans used to finance net investments in subsidiary undertakings are taken to reserves and offset against the differences on net investments in both Group and Company accounts.
This excerpt taken from the ICI 6-K filed Mar 16, 2005. Foreign currencies Profit and loss accounts in foreign currencies are translated into sterling at average rates for the relevant accounting periods. Assets and liabilities are translated at exchange rates ruling at the date of the Group balance sheet. Exchange differences on short-term foreign currency borrowings and deposits are included within net interest payable. Exchange differences on all other balances, except relevant foreign currency loans, are taken to operating profit. In the Group accounts, exchange differences arising on consolidation of the net investments in overseas subsidiary undertakings and associates are taken to reserves, as are differences arising on equity investments denominated in foreign currencies in the Company accounts. Differences on relevant long-term foreign currency loans used to finance net investments in subsidiary undertakings are taken to reserves and offset against the differences on net investments in both Group and Company accounts.
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