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APPLICATION for FOREIGN CURRENCY TRANSACTION Ktb Co  Form

APPLICATION for FOREIGN CURRENCY TRANSACTION Ktb Co Form

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our topic for today is mounting for Forex one of the most requested videos are you ready an entity may carry on to foreign activities number one is transactions in foreign currencies number two is if it has foreign operations there are two accounting issues here number one is what exchange rates do we use and number two is how to report the changes in foreign currency alright in order to better understand this we have to review the different accounting currencies number one is functional currency number two is foreign currency and number three is presentation currency let's see the company is located here in the Philippines the functional currency is the main currency used by the entity so it is Philippine peso foreign currency on the other hand is a currency other than functional currency for example US Dollars Japanese yen trillion dollars and so on and so forth presentation currency demand is the currency used in the preparation of financial statements that see it's also Philippine

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