A convenience translation is either when an entity displays its financial statements or other financial information in a currency that is different from either its functional currency or its presentation currency simply by translating all amounts at end-of-period exchange rates. A result of making a convenience translation is that the resulting financial information does not comply with all Generally Accepted Accounting Principles.
It is also referred to as a convenience translation when a (language) translation is rendered for the convenience of reading a text in a different from the original language; however, the original text remains the only legally binding text.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder of TBIL.co STATX Fund.