Parisian Co.is a French company located in Paris.Yankee Corp.,located in New York City,acquires Parisian Co.Parisian has the Euro as its local currency and the Swiss Franc as its functional currency.Yankee has the U.S.dollar as its local currency and the U.S.dollar as its functional currency.
Required:
a)The year-end consolidated financial statements will be prepared in which currency?
b)Explain which method is appropriate to use to use at year-end: Translation or Remeasurement?

Question

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The Answer of Parisian Co.is a French company located in Paris.Yankee Corp.,located in New York City,acquires Parisian Co.Parisian has the Euro as its local currency and the Swiss Franc as its functional currency.Yankee has the U.S.dollar as its local currency and the U.S.dollar as its functional currency.
Required:
a)The year-end consolidated financial statements will be prepared in which currency?
b)Explain which method is appropriate to use to use at year-end: Translation or Remeasurement?