Hi all
I'm looking for the best practice regarding rolling forward opening balances and currency translation of equity items (e.g. share capital) in a planning environment which spans multiple years.
Equity items (e.g. share capital) are translated at historic rates. The opening balance is therefore not translated using the OPEEND rate, but must equal the closing balance of the prior period. For statutory consolidations this can be achieved using the currency conversion and carry forward business rules. The opening balance in reporting currency (RC) is copied from the closing period and translated using AS_IS (i.e. left alone). The movements are then translated from local currency (LC) to RC using e.g. average rate. The 'force closing' option can then be used to calculate the new closing balance. Since statutory consolidations only span one reporting period, this poses no issue.
Planning is however done over multiple periods - let's assume 3 years. The business rules (as described above) work if they are executed for each period separately. If all three years are selected in the DM package, each business rule is executed for all 3 years in one go (i.e. copy closing to opening for all the periods, followed by currency translation of the movements and 'force closing'. BUT at the start of the execution of the carry forward business rule there are no closing balances for years 1 and 2. The result is that no opening balances are copied forward for years 2 and 3.
Combining a FOR loop in script logic with the business rules and *FOR_EACH_PERIOD works, but takes very long to complete since the business rules are executed for all periods for every period in the FOR loop (i.e. all periods). The periods selected in the DM package is used for the business rules and not the current period per the FOR loop. One cannot pass on a time variable to the business rule (only category and currency).
The only solution I can see for this problem is to only use script logic (and no business rules) to perform the currency translation and roll forward tasks.
Regards
Dewald