Effects of Changes in Foreign Exchange Rates

/Tag:Effects of Changes in Foreign Exchange Rates

Exchange difference on payment to contractor for development on fixed assets

we have a contract for development of a fixed assets, as per the contract:- Total Contract amount =  260 Million AED We have to pay this amount in Euro that is already fixed as per the contract it is 4.49 AED per Euro whatever is the rate prevailing currently doesnt matter bcoz it has been [...]

By |November 8th, 2009|OTHER IFRS|3 Comments

Conversion of foreign currency expenses with local currency

Dear I am in a financial organization. Our company pays some expenses (e.g. salary, fees) with foreign currency. In every month we prepare P/L account with local currency. We also perform currency exchange and change our sale/bye rate according to central bank and also booked exchange gain/loss determining mid rate. So, in which rate we [...]

By |September 13th, 2009|IAS 21|3 Comments