Accounting Issues on foreign currency transaction

Jun 21st, 2015
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In the globalization environment business empire are growing across the borders, entire world is single market for company. Indian business enterprises spreading their activities across the world. Being the part of the world market is not going to be easy there are cultural difference, legal issues and currency and settlement issues.

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K.J. Somaiya Institute of Management Studies and ResearchInternational Financial ManagementProject onAccounting Implication on Foreign Currency transactionIndexIntroduction ..................................................................................................... 3Accounting Issues on foreign currency transaction ......................................... 41.Accounting for foreign currency transaction .......................................................... 42.Accounting for foreign operation............................................................................ 4Problem of market determined foreign exchange value. ................................. 5Translation Method ......................................................................................................... 5Translation at Balance sheet Date ................................................................................... 6Approaches to Accounting Transactions ......................................................... 7Two transactions recognize approach .......................................................................... 7Two transaction defer .................................................................................................. 8One transaction recognize ............................................................................................ 8Accounting implication of Foreign Exchange Forward Contracts ................... 9Case Stud

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