Automate foreign currency translation and CTA computation for consolidation per ASC 830

Steps

1. For each foreign subsidiary, identify its functional currency and map all balance sheet accounts to the current (period-end) exchange rate and all income statement accounts to the average rate for the period, per ASC 830-10-45.
2. Fetch the period-end and average exchange rates for each currency pair from your ERP or an external rate provider; store them in a rate table keyed by (currency_pair, period, rate_type) for reproducibility.
3. Translate the foreign subsidiary's trial balance: multiply asset and liability account balances by the current rate, equity accounts by historical rates, and income statement accounts by the average rate.
4. Compute the cumulative translation adjustment (CTA) as the balancing plug: CTA = total translated assets minus total translated liabilities minus translated equity minus translated net income; post CTA to the other comprehensive income (OCI) equity section.
5. Accumulate CTA across periods in a separate ledger account; upon disposal of the subsidiary, reclassify the accumulated CTA balance to the income statement per ASC 830-30-40.
6. Generate a translation evidence report per subsidiary per period showing pre-translation local-currency amounts, rates applied, translated amounts, and CTA, and store it as audit evidence alongside the close package.