Canadian dollar Singapore dollar CFA franc (BCEAO) CFA franc (BEAC)
Swiss franc Bulgarian lev
Lebanese pound Pound sterling
0.8897 5.8943 82.7248 84.6392 7.8747 4.4430
0.8778 4.4134 72.4553 78.8361 7.7355 4.2976
0.8990 6.3735 91.4671 89.6605 8.0225 4.5597
0.8508 4.5157 69.9563 80.1870 7.8205 4.2568
Brazilian real Russian ruble Indian rupee Chinese yuan Polish zloty
Translation of foreign currency transactions c- Transactions denominated in foreign currencies are translated to the functional currency at the exchange rate applying on the transaction date. Foreign exchange gains and losses arising on settlement, as well as those arising from the translation of monetary assets and liabilities that are denominated in foreign currencies at the end-of-period exchange rate, are recognised in profit or loss under Other current operating income and expenses for transactions hedged against foreign currency risk and under Other financial income and expenses for all other transactions.
Hyperinflation in Lebanon d- During the financial year, the Lebanese economy was determined to be a hyperinflationary economy. IAS 29 Financial Reporting in Hyperinflationary Economies lays down the restatements that need to be carried out in such circumstances. The US dollar is the functional currency of the Group’s subsidiary in Lebanon. As a result, the standard does not require any adjustments.
SCOPE OF CONSOLIDATION NOTE 2
Consolidation methods Sopra Steria Group SA is the consolidating company.
Investments in entities over which the Group exerts significant influence (associates) are accounted for under the equity method. Significant influence is deemed to exist, unless clearly demonstrated not to be the case, when a parent company directly or indirectly holds 20% or more of the voting rights of the investee. Intercompany transactions as well as balances and unrealised profits on transactions between Group companies are eliminated. The accounts of all consolidated companies are prepared as at 31 December. Where applicable, those accounts have been restated to ensure the consistency of accounting and measurement rules applied by the Group. The scope of consolidation is presented in Note 18.
The companies over which Sopra Steria Group has exclusive p control are fully consolidated. An investor controls an investee where that investor is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Consequently, an investor controls an investee if and only if all the following criteria are met: it has power over the investee; p it is exposed – or has rights – to variable returns from its p involvement with the investee; it has the ability to exercise its power over the investee in such a way as to affect the amount of returns it obtains.