Requirements

• Currency rates for currency translation codes B and M (and D, if applicable) must have been entered for the relevant period.
• If this is the first time currency translation has been run in IBM® Cognos Controller, it is also important that OB rates have been entered, either in the form of period values in local and converted currency for the comparison period or as closing rates for the comparison period in the currency rate register. Depending on the currency translation method used, you might need to use other registers, such as the register of historical rates, or certain specifications.
• If the currency translation comprises more forms than just the income statement and balance sheet, it is vital that you have run reconciliation between accounts and opening balances in the local currency (LC) without errors. If not, the program can copy incorrect values from the specification accounts to accounts in the main form. Any currency translation errors will always appear in the final balance item, for the current method in the balance sheet, and for the MNM method in the income statement, and this will produce an incorrect final currency translation difference.

For more information, see Currency Translation Methods, and Currency Translation Rules.