Dear All!
I came across two problems yesterday with respect to IAS21、revenue to cash collection from customer ratio、off B/S financing、inventory valution.
Could anyone please clarify these problems:

(1) IAS21 require that financial statement of foreign entity first be restated for local inflation, then the inflation restated foreign statements are translated into parent's presentation currency using the Current Exchange Rate(i.e Current Rate Method); (cited from textbook page 286, 3.2.4 highly inflation economies)

In addition, example 7 (textbook page 304) translated financial statement of foreign entity into parent company's currency by using all Current Exchange Rate for highly inflation situation.

therefore, I have a reason to believe that Current Exchange Rate should be used for translation of foreign statement under highly inflation environment.
however, IAS21 also mentioned current rate method as equivalent to current exchange rate, where the confusion arise from. As far as current rate method concern, current exchange rate applied onto B/S (except for equity), average exchange rate applied onto I/S.

In this case, CFA committe seems to be making a mistake by mixing up current rate method with current exchange rate. I am wirting this to ask

which one should be correct answer for the similar problem like example 7: using current exchange rate to all financial statements, or using current rate method?

(2) how to use the ration of revenue divided by cash collection from customer in analyzing financial reporting quality?
      which statements is correct:
      a  the bigger the ratio, the better the earning quality and financial reporting quality
      b the smaller the ratio, the better the earning quality and financial reporting quality

(3) textbook page 405, example 7 off balance sheet debt: question 3 regarding to estimation of restating operating lease back onto financial statement and its impact.
      I am not able to understand the solution given by textbook, could you please explain the solution to me?

thanks