Foreign exchange
This query is : Open
01 August 2014
We bought a machine in another country for R15 000 through our financial institution (Bank) , but when the machine was finally delivered the amount was now R10 000.00 . What is the proper accounting treatment of the difference of R5 000?
We are the government institution not involved in the foreign exchange trading .
We are the government institution not involved in the foreign exchange trading .
02 August 2014
This is to be accounted as exchange gain
But 50% decrease on account of exchange rates are odd, I hope the numbers used are only for example
But 50% decrease on account of exchange rates are odd, I hope the numbers used are only for example
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