Join Mantralogix for our first Screencast. Learn how to streamline the process for accounting for foreign exchange gains and losses when using Sage 300. Read more on our blog here: http://bit.ly/1DULsnI http://www.mantralogix.com https://www.linkedin.com/company/mantralogix http://www.twitter.com/mantralogix http://www.facebook.com/mantralogix
Views: 6803 Mantralogix
In the demonstration you will see the Currency Gains and Losses in SAP Business One. In this video you will see the following features: 1. Exchange rates & indexes 2. Set rate for selection criteria 3. General settings 4. Currencies - setup 5. Company details 6. Business partner master data 7. Chart of accounts 8. AR invoice 9. List of items 10. Journal entry 11. Message/alerts overview 12. Account balance 13. Form settings - account balance 14. Customer receivable ageing 15. Customer receivable ageing - selection criteria 16. Incoming payments 17. Payment means 18. List of G/L accounts 19. Journal entry preview 20. G/L account determination 21. Exchange rates differences - selection criteria 22. Exchange rate differences 23. Conversion difference - selection criteria 24. Conversion differences See more: http://www.emerging-alliance.com/videos/sap-business-one-cur-83/ SAP Business one partners in UAE, Chennai, Dubai, Sharjah
In this video I purchase supplies from a foreign currency vendor, and then pay them from my home currency and watch how the exchange difference results from the shifting currency rates. Be sure to watch to the end and you will see how this is reflected in our income statement or profit and loss. Book a free consultation: https://calendly.com/kerry-11/free-introduction Here is the link to my small business month end checklist: http://eepurl.com/cYPbjb If you have questions or comments, please use the comments box below. I would love to hear from you :) https://myquickbookkeeping.com/ https://youtu.be/wHseY_KHIV8
Views: 1291 MyQuickBookKeeping
http://www.ifrsbox.com This is the short summary of IAS 21 The Effects of Changes in Foreign Exchange Rates. In today's world, the entities carry out their foreign activities in 2 ways: 1. They have some transactions in foreign currencies, or 2. They Have a foreign operation. An entity can also decide to present its financial statements in some foreign currency other than their own. The objective of IAS 21 is to prescribe • How to include foreign currency transactions and foreign operations in the financial statements of an entity; and • How to translate financial statements into a presentation currency. Functional currency is the currency of the primary economic environment in which the entity operates. It is the own entity's currency and all other currencies are "foreign currencies". The primary economic environment is normally the one in which the entity primarily generates and expends the cash, but more factors needed to be considered, such as the currency in which the sales prices are denominated, etc. Presentation currency is the currency in which the financial statements are presented. How to report transactions in FUNCTIONAL CURRENCY Initially, all foreign currency transactions shall be translated to functional currency by applying the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. Subsequently, at the end of each reporting period, you should translate: • All monetary items in foreign currency using the closing rate; • All non-monetary items measured in terms of historical cost using the exchange rate at the date of transaction (historical rate); • All non-monetary items measured at fair value using the exchange rate at the date when the fair value was measured. All exchange rate differences shall be recognized in profit or loss with some exceptions. How to translate financial statements into a PRESENTATION CURRENCY When an entity's functional currency is NOT the currency of a hyperinflationary economy, then an entity should translate: • All assets and liabilities for each statement of financial position presented (including comparatives) using the closing rate at the date of that statement of financial position. • All income and expenses and other comprehensive income items (including comparatives) using the exchange rates at the date of transactions. All resulting exchange differences shall be recognized in other comprehensive income as a separate component of equity. For more information and other IFRS materials, please visit http://www.ifrsbox.com
Views: 65933 Silvia M. (of IFRSbox)
● We explain topics simply. So Subscribe if you want to learn while being entertained. ✔ Please like the video and comment if you enjoyed - it helps a lot! ▶ If you want a question answered then ask in the comments and we may make a video about it! About the video: You may have traveled a lot and wondered why you get more of one currency when you exchange it for another. If so, you have witnessed exchange rates in action, but do you know how they work? Watch the video to find out what exchange rates are, how to convert between them and the different systems which determine a currencies exchange rate. Historically the gold standard system had been used, which fixed currency to a select value of gold, held in a vault. The three main systems are the floating, managed and fixed exchange rate systems. The floating system has minimal government intervention, using supply and demand to determine the exchange rate. The managed exchange rate is allowed to be within a permitted band and a fixed exchange rate is usually pegged to a currency with the interest of being competitive in the international market. The video explains this in more detail and with helpful picture to guide you through the subject.
Views: 408008 SimplyExplain
DOWNLOAD FREE TDL : http://www.promptidea.com/tdl-purchase/ Dear Friends, Today we are discussing about how to solve unadjusted forex gain/loss amount in tally ERP9 Steps: 1. Create a ledger as Forex gain or loss under Indirect Expenses 2. Create a Voucher Class. 3. Go to Accounts Info--- Voucher Types--- Alter--- Select Journal. 4. Specify a Voucher Class name. For example, Forex Class. 5. Set the option Use Class for Forex Gain/Loss Adjustments? to Yes. 6. Select Forex gain or loss ledger. 7. Go to Voucher entry --- Use F7: Journal--- Select the Voucher Class (Forex Class). If you have any doubt feel free to contact us.
Views: 14153 #VIDYA TV
ACCA P2 Gain or loss on translation of the overseas subsidiary Free lectures for the ACCA P2 Corporate Reporting Exams
Views: 11810 OpenTuition
Understanding the difference between realized and unrealized can improve your investment decision making and your return over time. Bill Valentine, CFA is the President and Portfolio Manager at Valentine Ventures, LLC, a wealth management firm located in Bend, Oregon. A financial educator, Bill puts out weekly market updates via The Hog Blog. Visit http://valentineventures.com/blog to view more of our content and sign up for weekly email notification of our latest communiques.
Views: 12298 Valentine Ventures
Foreign currecy transaction where domestic company buys or sells product to foreign company and foreign company pays for product based on the denominated foreign currency, example includes complete accounting with journal entries for balance sheet and income statement recorded at the time of the sale, year end revaluation for fluctuations (spot rate) of foreign currency and at the settlement (delivery) date, demonstrating both the Fair Value Method and Cash Flow Method for any realized or unrealized gains or losses on the transaction, complete accounting example with journal entries for the balance sheet and income statement by Allen Mursau
Views: 17625 Allen Mursau
http://www.informedtrades.com/ A lesson on how to calculate profits and losses in the forex market for active traders and investors in foreign exchange and currrencies. The platform featured in the video is the FX Trading Station. Click here to try a register for a free practice account on the FX Trading Station: http://bit.ly/IT-forex-demo3
Views: 68601 InformedTrades
This video shows how to recognize unrealized gains or losses on available-for-sale debt investments. AFS debt investments are marked to market each period, which means they are presented on the Balance Sheet at fair value. Any unrealized gain or loss bypasses the Income Statement and instead flows through Other Comprehensive Income. Edspira is your source for business and financial education. To view the entire video library for free, visit http://www.Edspira.com To like Edspira on Facebook, visit https://www.facebook.com/Edspira To sign up for the newsletter, visit http://Edspira.com/register-for-newsletter Edspira is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com To follow Michael on Twitter, visit https://twitter.com/Prof_McLaughlin To follow Michael on Facebook, visit https://www.facebook.com/Prof.Michael.McLaughlin
Views: 3058 Edspira
Learn more here: https://bit.ly/2ShPRPx Here' why you'll never make money in Forex. It's all because of the Forex cycle of doom. Many aspiring traders who are trying to make money in Forex don't know they're falling victim to it. The Forex cycle of doom is all about how you find a strategy, trade it, experience some losses, dump it and then find it a new strategy. It's the main reason why you'll never make money in Forex.
Views: 839030 ForexSignals TV
How to use Dynamics NAV Unrealised currencies Gains and Losses, presented by Match Business Solutions
Views: 4088 Eric Durand
Forex gain or loss in Tally The unadjusted Forex gain or loss balance will arise due to the exchange rate fluctuations. ... Create a ledger as Forex gain or loss under Indirect Expenses or Indirect Income to transfer the amount from Balance Sheet to Profit and Loss Account by using Voucher Class . Unadjusted Forex Gain/Loss
Views: 5692 Tally2u
Foreign Exchange fluctuation gain entry, Foreign Exchange fluctuation loss entry, Foreign Exchange fluctuation gain or loss entry, foreign exchange fluctuation calculation, Tally material, Tally classes, journal entries in tally, income entry in tally, payment entry in tally, how to post foreign transactions in tally, how to calculate foreign exchange fluctuation entries in tally erp9, tally erp9 entries. Purchase and sales entries, exchange rate
Views: 5764 Wisdom Tally
Learn How to Setup Multiple Currencies In QuickBooks Pro, Premier and Enterprise Solution Software; In this guide, I share step by step tips to activate multiple currencies in US, Euro, Pound and Nigeria Naira in QuickBooks 2016, 2017, 2018, 2019, 2020, 2021 and so on. You will see how I activated Nigerian Naira and updated exchange rate on daily basis with some business transaction showing how to add foreign invoices in US, Euro and Pounds and showed you how the software will convert the foreign currency into a local curreny instantly. On the report, you can view all Multiple Currencies and Exchange Rate Report on a Daily, a Weekly and Monthly Basis. Lastly, All Exchange Rate gain or losses are accounted for in the Profit or Loss account. The best QuickBooks version you can use for your multicurrency transactions are: QuickBooks Pro - for users below 3 QuickBooks Premier - for users below 5 QuickBooks Enterprise - for users below 30 See Prices here - https://amzn.to/2tUQkg6
Views: 23216 Accounting Software Tutorials
Subscribe Now: http://www.youtube.com/subscription_center?add_user=Ehowfinance Watch More: http://www.youtube.com/Ehowfinance Unrealized gain loss is a very specific financial term that you're going to need to know about. Learn about unrealized gain loss with help from a licensed insurance agent in this free video clip. Expert: Jonathan K. DeYoe Contact: www.deyoewealthmanagement.com Bio: Jonathan DeYoe is a Certified Private Wealth Advisor (CPWA) and an Accredited Investment Fiduciary (AIF). Filmmaker: Steven Watkins Series Description: You're never too young (or too old) to start seriously thinking about your financial future. Get tips on wealth management with help from a licensed insurance agent in this free video series.
Views: 2379 ehowfinance
Created on 3 October 2013. It covers the accounting for the effects of changes in foreign exchange rates pursuant to AASB121 (which is equivalent to IAS21). Topics include: - Accounting for foreign currency transactions - Accounting for foreign currency translations Part 1 is an introduction to the topic as well various required definitions
Views: 22606 drdavebond
How two parties can get better outcomes by specializing in their comparative advantage and trading Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/gains-from-trade-tutorial/v/comparative-advantage-and-absolute-advantage?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Missed the previous lesson? https://www.khanacademy.org/economics-finance-domain/microeconomics/choices-opp-cost-tutorial/production-possibilities/v/economic-growth-through-investment?utm_source=YT&utm_medium=Desc&utm_campaign=microeconomics Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to Khan Academy's Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to Khan Academy: https://www.youtube.com/subscription_center?add_user=khanacademy
Views: 597431 Khan Academy
Learn GST Export forex gain loss adjustment entries in tally ERP 9, Tally GST export with multiple currencies , Export Sales Accounting Entries in Tally. All about Export Sales, Export Invoice, Taxable Export Sales Entries in GST using Tally ERP 9. What is forex gain loss adjustment. How to adjust forex gain/loss in tally gst. when we export in other country currency then forex gain loss display in tally. It is Full Step by Step Tally GST Tutorial in Hindi. Must watch to master in tally accounting practical approach to work smartly. This Tally ERP 9 Video Tutorial Based on Advance, Professional, expert Tally courses for GST Accounting in Tally. It is a Part of RSCFA Course run by Career Planet. 👉Click to Watch All Videos on GST Accounting Entries in Tally Day by Day – https://www.youtube.com/playlist?list=PLlDtUyWdJwXWXAGj_W0peoAfenOKHeCYN 👉Click to Watch Basic Tally Accounting Video Day By Day- https://www.youtube.com/playlist?list=PLlDtUyWdJwXXx8VkVuPoRuqbVJzOBj9Cv Visit Our Website: http://www.cpitudaipur.com Visit Our Blog: http://cpitudaipur.blogspot.in/ Like Our Facebook Page: http://facebook.com/cpitudr Please Subscribe to Our Channel https://www.youtube.com/channel/UCSMsxXvvi-7XvygtsMWRBOg
Views: 20695 Career Planet Computer Education
Hector Garcia, CPA covers how Multiple Currencies in QuickBooks Online (US Edition Only) works and how Foreign Exchange Gains/Loss work
Views: 13322 Hector Garcia CPA
If you deal in multiple currencies, this video shows the in's and out's of reporting. Including Income Statement, Balance Sheet, Foreign Currency Gains and Losses, Account Transactions, and Invoices by Contact. Xero is beautiful accounting software for small businesses and their advisors. See your cashflow in real-time with online accounting, invoicing, payroll, billing & banking. Just login and see the difference. Sign up for a free trial at https://www.xero.com/signup Like us on Facebook: http://www.facebook.com/xero.accounting/ Follow us on Instagram: https://www.instagram.com/xero/ Follow us on Twitter: http://www.twitter.com/xero Follow us on LinkedIn: http://www.linkedin.com/company/xero Subscribe to our Youtube Channel here: https://www.youtube.com/user/XeroOnlineAccounting
Views: 1269 Xero Accounting Software
Foreign exchange gain or loss entry when Invoice and payment in foreign currency
Views: 96 Mantavya Gajjar
What is FUNCTIONAL CURRENCY? What does FUNCTIONAL CURRENCY mean? FUNCTIONAL CURRENCY meaning - FUNCTIONAL CURRENCY definition - FUNCTIONAL CURRENCY explanation. SUBSCRIBE to our Google Earth flights channel - http://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ?sub_confirmation=1 Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Functional currency refers to the main currency used by a business or unit of a business. It is the monetary unit of account of the principal economic environment in which an economic entity operates. International Accounting Standards (IAS) and U.S. Generally Accepted Accounting Principles (GAAP) provide rules for translation of foreign currency transactions and financial statements. SFAS 52 introduced the concept of functional currency, defined as "the currency of the primary economic environment in which the entity operates; normally, that is, the currency of the environment in which an entity primarily generates and expends cash." Businesses may enter into transactions (sales, payments, etc.) in multiple currencies. Each qualified business unit (QBU) of the business translates these items to its functional currency at an appropriate exchange rate. It then prepares periodic reports of its position (balance sheet) and activity (income and cash flow statements) in that functional currency. When various QBUs are combined, these reports are translated and consolidated to become financial statements. Translation of statements may result in translation differences, which are accounted for as a cumulative translation adjustment. Transactions are often translated at the spot rate, i.e., the rate of exchange between the transaction currency and the functional currency on the date of the transaction. Example: Jim is traveling on business and pays a hotel bill for SFR 200. Jim's home currency is the GBP. On the date Jim pays the bill, the exchange rate is SFR2 = GBP 1. Jim records an expense of GBP 100. Alternatively, businesses may record transactions in another currency using some sort of standard rate for some period, such as the average rate for the month. Businesses using the accrual method of accounting may recognize revenue or expense in one period and receive or pay it in another. In the intervening period the exchange rate may have changed. When an accrued item is settled, the difference due to exchange rate movement in the amount accrued and the amount settled is treated as foreign exchange gain or loss. This gain or loss is recognized in the same manner as the underlying transactions, such as an ordinary travel expense.
Views: 108 The Audiopedia
CA Final - Old Syllabus Students You can download my notes from my facebook about page - CA Final - OLD Syllabus Links Accounting Standards Material https://www.dropbox.com/s/xdf0c7n1zcjw4oo/Accounting%20Standards%20Full%20INCLUSING%20ANSWERS.pdf?dl=0 Financial Reporting Material https://www.dropbox.com/s/szcfu5xpla5mty4/CA%20Final%20Old%20Syllabus.pdf?dl=0 Changes in Financial Reporting https://www.dropbox.com/s/2nzjbfknqkh1gbk/Changes%20in%20FR.pdf?dl=0 Comparisons between IND AS vs AS https://www.dropbox.com/s/gh3qh9pjxe9zdw2/IND%20AS%20vs%20AS%20Comparison.pdf?dl=0 Watch all the videos free of cost on my Youtube Channel Follow the Link - https://www.youtube.com/knvsantoshmehra CA Santosh Mehra is a Diploma in IFRS from ACCA – UK subsequent to which he attained CERTIFICATION IN IND-AS / IFRS by ICAI in 2015. He is known for his skill in implementation of IFRS and IND AS with various enterprises in India and outside India. He is a certified trainer by ICAI for qualified CAs in various centres of ICAI. https://www.facebook.com/casantoshmehra/
Views: 35085 Santosh Mehra
Learn how to setup multiple currencies in QuickBooks Desktop Pro, Premier And Enterprise and update your latest exchange rate easily. This video will help you activate multiple currencies in QuickBooks, select your home currency and find where to update daily exchange rates. If your home currency is in US dollars, Euro or British Pounds, you don't need to update your rate, QuickBooks download the rates and apply it to foreign customers and vendors transactions. You will also view the effect on foreign currency transactions on your financial report. Subscribe for more videos The best QuickBooks version you can use for your business are: QuickBooks Pro - for users below 3 QuickBooks Premier - for users below 5 QuickBooks Enterprise - for users below 30 See Prices here - https://amzn.to/2tUQkg6
Views: 6513 Accounting Software Tutorials
Hello friends, in this video you will learn CAIIB AND JAIIB AND concepts of foreign exchange in Accounting and finance for bankers: What is Foreign exchange? What is direct and indirect quote? What is Forex? Foreign exchange rate and its types Exchange rate arithmetic. Value date concepts Cash/ready, TOM, SPOT, Forward rate, Premium and Discount Forward points Arbitrage How to calculate forward points? Method of quoting forward rates.
Views: 64491 GrowYourself
• Currency maintenance • Account and Journal type setting for Currency Exchange Gain/Loss • Maintain currency rate • Debtor in foreign currency • Assign currency rate during transaction • Journal of transaction reports • Debtor statement in local/foreign currency • Auto-generate gain/loss in foreign exchange • Foreign currency bank account • Item price by currency
Views: 859 MyOne AutoCount
In this lecture we are doing practical aspect on export of goods transactions, how to pass journal entries for sales, receipt of dollars, their loss and gain to company, revaluation of dollars, initial rate, payment rate, closing rate. how to prepare ledger account of Foreign exchange fluctuation account etc. A short and informative lecture to aid Commerce, 11th,12th, B.Com, BMS, BFM BAF and M.com. students. From :- Rakesh Sir Rakesh Sir Group Tuition Thanks for watching this lecture, bye and have a nice day.
Views: 2181 Rakesh Yadav
Accounting for the disposal of property plant and equipment (long term assets, fixed assets), example is for the involuntary conversion of a building lost in a fire, a company may retire plant assets voluntarily or dispose of them by sale, exchange, involuntary conversion, donation , or scrap or abandonment, regardless of the type of disposal, depreciation must be taken up to the date of disposition, then remove all accounts related to the retired asset, generally book value of the asset does not equal its disposal value, as a result a gain or loss results, the reason is that depreciation is an estimate of cost allocation and not valuation, the gain or loss is really a correction of net income for the years which the asset was used, the examples include (1) Involuntary Conversion: (such as fire, flood, theft or condemation), report the difference between amount recovered (if any) and the assets book value as a gain or loss, may be reported as an extraordinary item on Income Statement, (2) Sale of a plant asset, (3) Donations made or pledged as Contributions (donations) made by companies: (a) Recognize as Expense in the period donated, (b) Measure at fair value of assets donated, (c) If a difference exists between fair value of asset and its book value, then recognize a gain or loss and (4) Scrap or Abandonment of Asset, If an asset still can be used even though fully depreciated it may be kept on the books at cost less accumulated depreciation (Book Value), without any cash recovery, recognize a loss equal to the assets book value and If scrap value exists, the gain or loss is the difference between the assets scrap value and its book value, detailed accounting by Allen Mursau
Views: 1779 Allen Mursau
FinTree website link: http://www.fintreeindia.com FB Page link :http://www.facebook.com/Fin... This series of video covers the following key areas: o A financial institution's overall foreign exchange exposure o How a financial institution could alter its net position exposure to reduce foreign exchange risk o A financial institution's potential dollar gain or loss exposure to a particular currency o The different types of foreign exchange trading activities o The sources of foreign exchange trading gains and losses o The Potential gain or loss from a foreign currency denominated investment. o Balance-sheet hedging with forwards o How a non-arbitrage assumption in the foreign exchange markets leads to the interest rate parity theorem, and use this theorem to calculate forward foreign exchange rates o Why diversification in multicurrency asset-liability positions could reduce portfolio risk o The relationship between nominal and real interest rates We love what we do, and we make awesome video lectures for CFA and FRM exams. Our Video Lectures are comprehensive, easy to understand and most importantly, fun to study with! This Video lecture was recorded by our popular trainer for CFA, Mr. Utkarsh Jain, during one of his live FRM Classes in Pune (India).
Views: 10683 FinTree
Trading ETFs using the G3 Investors Trading System; and tracking the G3 Model Portfolio's realized gains (losses) vs. unrealized gains (losses).
Views: 421 Greg Gallagher
This video shows how CurrencyXchanger calculates the unrealized gain for each transaction. CurrencyXchanger calculates the unrealized gain for each transaction and stores the result in the journal registry (transaction logs). The unrealized gain or unrealized loss is calculated by the transaction amount * (dealing rate - market rate). This is an indication of how much profit or loss were made assuming that the market rate is the base.
Views: 356 ClearViewSystemsLtd
CFAP AAFR Lecture 21 Topic : Exchange gain/loss on translation/goodwill Consolidation practice question Subject : CFAP 1 Advanced Accounting and Financial Reporting Objective: To develop an in-depth understanding of, and the ability to apply the requirements of international pronouncements, the Companies Act, 2017 and other applicable regulatory requirements in respect of financial reporting and the presentation of financial statements. A PRESENTATION OF FINANCIAL STATEMENTS INCLUDING PUBLIC SECTOR ACCOUNTING 1. Presentation of financial statements (IAS 1, IAS 7 and Companies Act, 2017) 2. IAS 27: Separate financial statements 3. IFRS 10: Consolidated financial statements 4. IAS 28: Accounting for associates and joint ventures 5. IFRS 11: Joint arrangements 6. IFRS 12: Disclosure of interests in other entities 7. IAS 34: Interim financial reporting 8. IAS 29: Financial Reporting in Hyperinflationary Economies 9. IFRS 5: Non-current assets held for sale and discontinued operations 10. IFRS 8: Operating segments 11. Overview of IPSASs and the conceptual framework for general purpose financial reporting by public sector entities 12. IPSAS 1 Presentation of financial statements 13. IPSAS Financial reporting under the cash basis of accounting (this IPSAS has not been given any number). B FINANCIAL REPORTING AND ETHICS a. Financial reporting 1. The Conceptual Framework for the preparation and presentation of financial statements 2. IFRS 1: First-time adoption of international financial reporting standards 3. IFRS 2: Share-based payment 4. IFRS 3: Business combinations 5. IFRS 4: Insurance contracts 6. IFRS 6: Exploration for and evaluation of mineral resources 7. IFRS 7: Financial instruments: disclosures 8. IFRS 9: Financial Instruments 9. IFRS 13: Fair value measurement 10. IFRS 14: Regulatory deferral accounts 11. IFRS 15: Revenue from contracts with customers 12. IAS 2: Inventories 13. IAS 8: Accounting policies, changes in accounting estimates and errors 14. IAS 10: Events after the reporting date 15. IAS 12: Income Taxes 16. IAS 16: Property, plant and equipment 17. IFRS 16: Leases 18. IAS 19: Employee benefits 19. IAS 20: Accounting for government grants and disclosure of government assistance 20. IAS 21: The effects of changes in foreign exchange rates 21. IAS 23: Borrowing costs 22. IAS 24: Related party disclosures 23. IAS 32: Financial instruments: Presentation 24. IAS 33: Earnings per share 25. IAS 36: Impairment of assets 26. IAS 37: Provisions, contingent liabilities and contingent assets 27. IAS 38: Intangible assets 28. IAS 39: Financial instruments: recognition and measurement 29. IAS 40: Investment property 30. IAS 41: Agriculture 31. IFRIC 1: Changes in existing decommissioning, restoration and similar liabilities 32. IFRIC 2: Members’ shares in co-operative entities and similar instruments 33. IFRIC 5: Rights to interests arising from decommissioning, restoration and environmental rehabilitation funds 34. IFRIC 6: Liabilities arising from participating in a specific market – waste electrical and electronic equipment 35. IFRIC 7: Applying the restatement approach under IAS 29 financial reporting in hyperinflationary economies 36. IFRIC 10: Interim financial reporting and impairment 37. IFRIC 12: Service concession arrangements 38. IFRIC 14: IAS 19 – The limit on a defined benefit asset, minimum funding requirements and their interaction 39. IFRIC 16: Hedges of a net investment in a foreign operation 40. IFRIC 17: Distributions of non-cash assets to owners 41. IFRIC 19: Extinguishing financial liabilities with equity instruments 42. IFRIC 20: Stripping costs in the production phase of a surface mine 43. IFRIC 21: Levies 44. SIC 7: Introduction of the euro 45. SIC 10: Government assistance – no specific relation to operating activities 46. SIC 25: Income taxes – changes in the tax status of an enterprise or its shareholders 47. SIC 29: Disclosure – service concession arrangements 48. SIC 32: Intangible Assets – web site costs b. Ethics 1. Professional misconduct under the Chartered Accountants Ordinance 1961 2. Code of Ethics issued by the Institute of Chartered Accountants of Pakistan C SPECIALISED FINANCIAL STATEMENTS 1. Small and medium sized entities 2. Banks 3. Mutual Funds 4. Insurance Companies 5. IAS 26: Accounting and reporting by retirement benefit plans 6. Overview of Islamic accounting standard issued by ICAP Please subscribe to this channel for more videos click https://www.youtube.com/c/FutureCharteredAccountant?sub_confirmation=1 Visit my website https://www.taxaam.com
Views: 139 Future Chartered Accountant
Capital assets include any property held by the taxpayer other than inventory, accounts receivable, and depreciable property or real estate used in a business. Thus, the sale or exchange of assets in these categories usually results in ordinary income or loss treatment. To arrive at a net capital gain, capital losses are taken into account. The capital losses are aggregated by holding period (short-and long-term) and applied against the gains in that category. If excess losses result, they are shifted to the category carrying the highest tax rate. A net capital gain occurs if the net long-term capital gain (NLTCG) exceeds the net short-term capital loss (NSTCL). My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountinglectures LinkedIn: https://goo.gl/Pp2ter Twitter: https://twitter.com/farhatlectures Email Contact: [email protected]
Views: 172 Farhat's Accounting Lectures
Malaysia's ringgit led gains in Asian currencies as the dollar extended losses after disappointing U.S. data prompted traders to again pare rate-increase bets. The ringgit rose 0.9 percent to 3.6737 versus the greenback in Kuala Lumpur this morning. A gauge of the dollar fell 0.2 percent and has lost 1.4 percent in three days. Sila layari http://www.astroawani.com untuk berita selanjutnya. Visit http://www.astroawani.com for more news. Astro AWANI LIVE http://www.astroawani.com/videos/live Subscibe to NJOI AWANI https://www.youtube.com/njoiawani Follow us on Website http://www.astroawani.com Like us on Facebook https://www.facebook.com/astroawani Follow us on Twitter https://twitter.com/501Awani Follow us on Instagram http://instagram.com/501awani
Views: 878 Astro Awani
This free video lecture from Wiley CPAexcel features the very latest updates from AICPA on Conversion of Foreign Financial Statements (testable on the FAR section of the July 2015 CPA Exam). Prof. Pam Smith of Northern Illinois University walks us through an overview of converting a foreign currency to a domestic currency. There are two methods of conversion: translation and remeasurement. The key criteria for determining the method of conversion is to determine the entities function currency. This lesson describes both methods of conversion and how to determine which is appropriate. Get your free trial of Wiley CPAexcel today http://ow.ly/ICCtm.
Views: 18734 Wiley CPAexcel
Going abroad? Planning for a vacation? Looking to get your foreign currency notes ready? With the Hang Seng Online Foreign Currency Trading Service, you can exchange foreign currencies at your preferred rate anytime, anywhere. When you are ready, just collect your foreign currency notes at any branch. If you do not need to use the foreign currencies right away, you have the option to place them in a time deposit to enjoy higher interest rate than that of a savings deposit. To experience how to exchange foreign currencies and set up a time deposit online, let Hang Seng Mr.Banker show you now! For more details, please visit：https://bank.hangseng.com/1/2/rates Online FX buy/sell now：hangseng.com/e-banking Open a foreign currency account via online：https://bank.hangseng.com/1/2/personal/banking-services/account-opening Investment Corner provides you comprehensive FX information at a glance： https://bank.hangseng.com/1/2/investmentcorner/foreignexchange Online FX buy/sell demo： http://www.hangseng.com/cms/pws/files/demo/tmd/web/eng/index.htm Disclaimer The contents in this video are for illustration only and is not and should not be considered as a recommendation, offer or solicitation to deal in any of the investment products mentioned herein. This video is not intended to provide professional advice and should not be relied upon in that regard. Risk Warning RMB Currency Risk • Renminbi (“RMB”) is subject to exchange rate risk. Fluctuation in the exchange rate of RMB may result in losses in the event that the customer subsequently converts RMB into another currency (including Hong Kong Dollars). Exchange controls imposed by the relevant authorities may also adversely affect the applicable exchange rate. RMB is currently not freely convertible and conversion of RMB may be subject to certain policy, regulatory requirements and/or restrictions (which are subject to changes from time to time without notice). The actual conversion arrangement will depend on the policy, regulatory requirements and/or restrictions prevailing at the relevant time. Foreign Currency Risk • Foreign Exchange involves Exchange Rate Risk. Fluctuations in the exchange rate of a foreign currency may result in gains or losses in the event that the customer converts HKD to foreign currency or vice versa. “MaxiInterest” Investment Deposit Risk • This is a structured product involving derivatives. The investment decision is yours but you should not invest in the MaxiInterest Investment Deposit unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives. Investors should read the relevant Important Facts Statement, Terms and Conditions and risk disclosure statement before making any investment decision. • Investors should note that this product is not capital protected and is not normal time deposit, and thus should not be considered as normal time deposit or its alternative. • Earnings on this product are limited to the nominal interest payable. As the principal and the earning will be paid in the Deposit Currency or the Linked Currency, whichever has depreciated against the other, investors will have to bear the potential losses due to currency depreciation, which may be substantial. If the product is withdrawn before maturity, investors will also have to bear the costs involved. Such losses and costs may reduce the earnings and the principal amount of this product. Investors should seek professional advice when necessary. The relevant Terms and Conditions of this product are available upon request to the staff of Hang Seng Bank Limited (the "Bank"). • This product is not a protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong. • Investment in this product is subject to the credit risk of the Bank. • Renminbi (RMB) is subject to foreign exchange control by the PRC government and thus investors investing in the MaxiInterest Investment Deposit involving RMB is subject to the currency risk of RMB.
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In this lecture, I explain the functional currency concept and introduce translation of financial statement using the premeasurement method (temporal method) and translation method (current rate method). This an advanced accounting topic. My website: https://farhatlectures.com/ Facebook page: https://www.facebook.com/accountinglectures LinkedIn: https://goo.gl/Pp2ter Twitter: https://twitter.com/farhatlectures Email Contact: [email protected] The objectives are to provide information that is compatible with the exposed economic effects of an exchange rate change on a firm’s cash flows and equity, and to reflect in the consolidated statements the financial results and relationships of the individual entities as measured in their functional currencies in conformity with U.S. GAAP. The functional currency is the currency of the primary economic environment in which the foreign entity conducts its operations and generates and expends its cash. Under the current method, all assets and liabilities are translated using the current exchange rate on the balance sheet date. For income statement accounts (revenues and expenses),a weighted-average exchange rate is used to approximate the results that would be obtained from translation of each transaction. Under the temporal method, monetary assets and liabilities are translated at the cur- rent exchange rate. Assets and liabilities carried at historical cost are translated at historical exchange rates. Assets and liabilities carried at current values (such as inventory carried at market under the lower of cost or market rule) are translated at the cur- rent exchange rate. Revenues and expenses that relate to assets and liabilities translated at historical rates (such as depreciation expense, amortization expense, and the cost of sales) are translated at the historical rates used for the related assets and liabilities. Other revenues and expenses are converted using a weighted-average rate. The tem- poral method (also referred to as remeasurement) is appropriate when the functional currency is the U.S. dollar or when the for- eign environment is highly inflationary. The current method (also referred to as translation) is appropriate when the func- tional currency is the local currency. If the functional currency is the currency of a third country, it is necessary to remeasure the accounts first into the functional currency using the temporal method and then to translate the accounts into U.S. dollars (the reporting currency) using the current method.
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