Bilanzstichtag vs. Transaktionszeitpunkt

00:49 Mar 20, 2015 

Thank you Ted Wozniak and RobinB. That makes sense :)

22:20 Mar 19, 2015 

What the author is saying in a rather obtuse way is a reflection of the provisions of IAS 21. Asset and liability items are translated using a closing rate as of the balance sheet date - here, the middle rate as of the balance sheet closing date/reporting date. Income and expense items are translated using exchange rates as of the transaction date. Here, "using transaction date exchange rates that are approximated by annual average rates".

http://www.iasplus.com/en/standards/ias/ias21

And of course, I agree with Robin B. :-)

One last note: When asking questions about accounting, please ALWAYS indicate which accounting standards are involved - HGB, IFRS, FER. It does make a big difference - esp. for German terms that are the same in German but different in English - je nach dem Standard.

20:45 Mar 19, 2015 

@Holly: You’d better get some of the other accounting terminology straight in addition to your actual question: Mittelkurs = middle rate (at the reporting date); Gesamtergebnisrechnung = statement of comprehensive income; umrechnen = translate. Note that "die durch the Jahresdurchschnittskurse approximiert werden” belongs with the “Transaktionskursen zum Transaktionszeitpunkt”, not with the exchange rate used to translate the assets and liabilities.