Forex Revaluation Reserve

This topic has 1 reply, 2 voices, and was last updated 12 years ago by MikeLittle.

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November 23, 2013 at 1:23 pm #147503
Mohammad Ibrahim
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With reference to the exam question of June 08 (Riby Hall and Zian) why dont they make a Forex exchange reserve and add it to the Income Statement whereas in June 04 question ( Memo) a Forex exchange reserve reserve is made ?

Thank you in advance
December 2, 2013 at 10:28 am #149020
MikeLittle
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Strictly there should be a separate component of equity for the Accumulated Exchange Differences – I don’t know why there is a lack of consistency
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