What is Conversion?
Conversion refers to foreign currency transactions that are immediately converted at the time of entry to the ledger currency of the ledger in which the transaction takes place.
Whtat is Revaluation?
Revaluation adjusts liability or asset accounts that may be materially understated or overstated at the end of a period due to a fluctuation in the exchange rate between the time the transaction was entered and the end of the period.
What is Translation?
Translation refers to the act of restating an entire ledger or balances for a company from the ledger currency to a foreign currency.
