D-GAS 33 Currency Translation in Consolidated Financial Statements published

Today, the ASCG’s German GAAP Technical Committee has exposed the Draft German Accounting Standard No. 33 Currency Translation in Consolidated Financial Statements (D-GAS 33, only in a German version) for public comment.

The aim of the draft standard is to set out detailed guidance on the currency translation requirements of section 308a of the HGB as well as on the translation of foreign currency transactions in the financial statements of the entities included in consolidated financial statements and to clarify any issues in doubt. Development of the draft standard has been supported by the ASCG’s Currency Translation Working Group.

Comments on D-GAS 33 can be provided until 31 October 2017 (bahrmann@drsc.de). The draft is available only in German.