Originally Posted by
winner69
Biscuits - its this
Exchange differences, principally relating to the translation from Australian dollars, being the functional currency of the Group’s foreign controlled entities in Australia, into New Zealand dollars being the Group’s presentation currency, are brought to account by entries made directly in other comprehensive income and accumulated in the foreign currency translation reserve.
The key word is 'translation' - ie converting the Aussie (and other) accounts into NZD. Day to day trading impacts are probably already accounted for in the respective country P&Ls
You be non the wiser with this explanation but no need to worry about it, just complicates things. the year before it was a big positive number.
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