Current Rate Method - confusion

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Hi guys,
Are current rate translation adjustments recognised in both the I/S and the B/S?
I was cruising along nicely under the assumption that with current rate method a translation adjustment is reported in S/E as part of CTA….. Then I did a question the answer to which stated that under the current rate method any gains or losses should be reflected in the income statement… Aren’t the translation adjustments under the the temporal method reflected in the income statement….. Could someone kindly confirm what I’m missing here? Thanks for this
 
For me temporal method it’s all in the NI. We have no position alone all is remeasured and difference is NI. In current method we have the CTA which is on the balance sheet.
 
Thanks, I think I’m a bit confused because the the foreign currency transactions unrealied gains and losses are reflected in the income statement (even if using current rate method) - not sure exactly how this ties in with the Current Rate Methodology??? Does anyone know how do foreign currency transactions eventually flow through to the balance sheet if at all?
 
You have distuingish exchange rate losses/gains from regular foreign currency transactions and those that are realized by transactions from and to abroad and CTA which is the result from translation from certain entity’s (which is a part of same corporation) to reporting currency.
 
From what I understand from the text book (Pg 220) is that under IFRS/GAAP the change in the value of a foreign currency asset or liability resulting from a foreign currency transaction is reported in the income statement.
How does this then later flow through to the balance sheet later under Current Method? Is it not later reflected in the B/S, or am I completely off track here? Thanks
 
Thanks for help guys, maybe I’m over thinking things…. Party on…….
 
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