Can any one help me ,
What is the differnce between the MRC and Revaluation?
Regards
Nagesh
MRC and Revaluation
-
- Posts: 38
- Joined: Thu Feb 14, 2008 7:59 am
- Location: India
-
- Posts: 10
- Joined: Thu Mar 06, 2008 10:56 pm
- Location: India
Hi,
MRC means multiple reporting currency
If the company wants to reporting the data at transaction level then we go for MRC.
Here one primary SOB & one or more Reporting SOB is required.
Revaluation:
It means revalue of our foreign currency transactions at period end with period end rates or period average rates. If any difference in rates when transaction rate and period end rate, the difference amount goes to unrealized gain/loss A/C and reverse the entry in the next year beginning.
I think it is clear to u.
Thanks
Sri.
MRC means multiple reporting currency
If the company wants to reporting the data at transaction level then we go for MRC.
Here one primary SOB & one or more Reporting SOB is required.
Revaluation:
It means revalue of our foreign currency transactions at period end with period end rates or period average rates. If any difference in rates when transaction rate and period end rate, the difference amount goes to unrealized gain/loss A/C and reverse the entry in the next year beginning.
I think it is clear to u.
Thanks
Sri.
Who is online
Users browsing this forum: No registered users and 0 guests