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Hi. I would be grateful if someone can help me undertsand the way to account for an FX swap, exchanging FX for local currency. Since this is considered a derivative, how is it accounted for in the books? should it be both a liability and an asset? derivative are measured at FVTPL, how do i account for the changes in FV and at the same time account for the gain/losses on the swap arrangements?
Thank you in advance.
I have absolutely no idea how it will be shown in the books because this is a financial accounts issue and not a financial management issue.
It is therefore not relevant for the AFM exam. It may well be relevant for the SBR exam and so if you are taking SBR you need to ask in the Paper SBR forum and the relevant tutor will be able to help you.
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