Dear Gents,

I have an inquiry regarding the FroEx for construction contracts, if I won a contract in Euro and my functional currency is USD, shall I fix the exchange rate at the time of signing the contract and and every month will calculate revenue based on POC using this fixed rate or shall I change the contract amount very month (which is not practical) – pls. advise.

Thanks,

It is recommended that you fix the rate of exchange at the date of contract with concent of contractee and payment made accordingly but assets should be recognized as per IAS-21

AMIR