Wiradjuri Ltd is a Queensland software developer that specialises in software that controls mining operations. To exploit opportunities in the US market, Wiradjuri Ltd has established a foreign operation, Opencut Inc., in Austin, Texas. The operations of Opencut Inc. essentially involve the marketing of software initially developed in Australia, but which is further developed by the foreign operation to suit the special requirements of particular US customers. Wiradjuri Ltd does not charge Opencut Inc. for the software successfully amended and marketed in the United States. At this stage no dividends have been paid by 

Opencut Inc, however, it is expected that dividends will commence within 12 months. With respect to working capital, Opencut Inc. has an overdraft facility with the Bank of Texas, which has been guaranteed by Wiradjuri Ltd.

Required 

Discuss the process of translating the financial statements of Opencut Inc. for consolidation with the financial statements of Wiradjuri Ltd.