How does pyre ring work?

okay so i was wondering weather or not pyre allows the skills that change to fire damage, does this allow those skills to now scale with increased fire damage? And do they still get the bonuses from other specific elemtal increases? for example if i were to get increased cold damage for frost nova and then put on pyre, would the cold damage increases still affect it? and would the skill increase with fire damage now as well?
Conversion occurs before Damage multipliers are calculated.

Converted Damage benefits from the source-type's multipliers as well. Cold Damage that is Converted to Fire Damage will benefit from both Increased Fire and Cold Damage.

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