Purchasing in PKR, paying through $ account IAS 21

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Purchasing in PKR, paying through $ account IAS 21

Shahzad09
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#15

10-28-2009, 08:27 PM

Thanks, can you help with the example of prepaid rent

If $12 in advance paid on Jan 1 for a year rent when $/Rs rate was 80, however exchange rate changed to 90 on Jan 31
(functional currency rupees)

(Jan 1) Advance 960
Bank 960

(Jan31) Rent expense 80 (960/12)
Advance 80

Please confirm whether this entry is correct or shall we have to record exchange gain/loss every time we reverse the advance ?

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Purchasing in PKR, paying through $ account IAS 21 - by Shahzad09 - 03-24-2009, 01:23 PM

[No subject] - by Shahzad09 - 03-25-2009, 10:53 PM

[No subject] - by kamranACA - 03-26-2009, 12:06 AM

[No subject] - by kamranACA - 03-26-2009, 05:36 PM

[No subject] - by Star - 03-27-2009, 06:50 PM

[No subject] - by kamranACA - 03-27-2009, 08:20 PM

[No subject] - by Star - 03-28-2009, 07:15 PM

[No subject] - by kamranACA - 03-28-2009, 08:13 PM

[No subject] - by Star - 03-30-2009, 06:11 PM

[No subject] - by kamranACA - 03-30-2009, 06:50 PM

[No subject] - by Shahzad09 - 03-31-2009, 05:19 PM

[No subject] - by kamranACA - 03-31-2009, 10:19 PM

[No subject] - by Shahzad09 - 10-26-2009, 08:29 PM

[No subject] - by maani - 10-28-2009, 03:40 AM

[No subject] - by Shahzad09 - 10-28-2009, 08:27 PM

[No subject] - by Shahzad09 - 11-02-2009, 01:08 PM

[No subject] - by maani - 11-03-2009, 06:17 AM