Forward Currency gain loss

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Service
255 Points Posted on 11 February 2023
Forward Contact of currency unrealised gain loss shall be considered as finance cost or other expenses?
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On 11 February 2023 at 22:59 Report
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Quick Summary
This discussion explores the correct accounting treatment for unrealised gains and losses on forward currency contracts. It questions whether these should be classified as finance costs or other expenses. The provided context suggests an entry where a forward contract is credited to income, potentially leading to a loss.

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Finance
4592 Points Posted on 12 February 2023

It is income 

Dr. Forward contract

Cr. Income from other sources

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On 12 February 2023 at 16:08
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Service
255 Points Posted on 12 February 2023
I am having loss
1 Reply
On 12 February 2023 at 22:48
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Finance
4592 Points Posted on 14 February 2023

Maybe I gave a wrong entry to you because I don't deal with instruments in practise.

https://www.wikihow.com/Account-for-Forward-Contracts

This is a good meterial and easy to understand.

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On 14 February 2023 at 07:20

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