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Accounting entry

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(Querist)
17 June 2014 what is accounting entry for
foreign exchange loss realised &
foreign exchange loss unrealised?
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Vishnu Saboo

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Vishnu Saboo (Expert)
17 June 2014 Foreign exchange loss realized Dr
To relavant head


Foreign exchange loss unrealized Dr
To relavant head
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kaushal

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kaushal (Querist)
18 June 2014 correct me if i m wrong

So it means that both realised & unrealised f ex P/l will go to P/l account ?
And no reversal of entries is carried out in next year for unrealised part
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Vishnu Saboo

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Vishnu Saboo (Expert)
18 June 2014 yes, it will hit P&L expect FE generated on capital items, in case of Capital items which you going to capitalize or capitalized, realized fe will be capitalized,
you may or may not reverse in next year unrealized part, its upon policy u adopted in ur concern. in case u reverse the impact of unrealized part, ur Liability/asset will become on original FE rate, and if u dont reverse, it will be revalueted.
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