Accounting Tools

SEPTEMBER 12, 2023

Related Courses Corporate Cash Management Foreign Currency Accounting What is a Foreign Exchange Contract? A foreign exchange contract is a legal arrangement in which the parties agree to transfer between them a certain amount of foreign exchange at a predetermined rate of exchange, and as of a predetermined date.

Accounting 75

Accounting Accounting 75

Accounting Tools

JANUARY 30, 2024

What is Foreign Exchange? Foreign exchange is the swapping of one currency for another. It is needed to settle transactions between people or entities located in countries that use different currencies. This exchange is needed to complete international transactions. Dollars (USD).

Accounting 40

Accounting Accounting 40

Accounting Tools

JANUARY 30, 2024

What is a Currency Swap? A currency swap is a spot transaction on the over-the-counter market that is executed at the same time as a forward transaction, with currencies being exchanged at both the spot date and the forward date. The currency swap acts as an investment in one currency and a loan in the other.

Corporate Finance 40

Corporate Finance Accounting Accounting 40

Accounting Tools

MARCH 6, 2024

What is a Single Currency Center Model? A company may elect to pool cash within the home country of each currency (e.g., dollars are pooled in the United States), which is called the single currency center model. This is one of the more efficient methods used by larger organizations to manage their cash flows.

Accounting 40

Accounting Accounting 40

Accounting Tools

APRIL 15, 2024

This accounting applies to anything being hedged, such as foreign exchange positions, cash flows , and interest rates. Related Article Hedging Instrument Hedges are used to reduce the risk of losses by taking on an offsetting position in relation to a financial instrument.

Accounting 40

Accounting Accounting 40

Counto

MAY 4, 2024

This guide covers everything from understanding employment laws to integrating foreign talent, ensuring you’re well-prepared to build a strong team. Both local and foreign employees covered under the Employment Act enjoy protections concerning working hours, leave entitlements, and termination requirements.

Payroll 52

Payroll Corporation Tax Bookkeeping Tax 52

Accounting Tools

OCTOBER 1, 2023

Related Courses Corporate Cash Management Enterprise Risk Management Foreign Currency Accounting What is Foreign Exchange Risk? Foreign exchange risk is the possibility that the value of a transaction or an investment will change because of variations in currency exchange rates.

Accounting 40

Accounting Accounting 40

Accounting Tools

AUGUST 1, 2023

An exchange rate is the ratio at which two currencies are traded. The exchange rate is comprised of a base currency and a counter currency. In a direct quotation, the foreign currency is designated as the base currency and the counter currency is the domestic currency.

Accounting 40

Accounting Accounting 40

Accounting Tools

SEPTEMBER 4, 2023

Related Courses Accounting for Derivatives and Hedges Corporate Cash Management Foreign Currency Accounting What is a Foreign Currency Option? Foreign currency options are used to hedge against the possibility of losses caused by changes in exchange rates. Burmudan option.

Accounting 40

Accounting Accounting 40

Accounting Tools

DECEMBER 26, 2023

This exposure is derived from changes in foreign exchange rates between the dates when a transaction is booked and when it is settled. This can be a significant risk when the currencies involved in an international transaction have a history of significant fluctuations. The basic rules for transaction exposure are noted below.

Accounting 40

Accounting Accounting 40

Accounting Tools

FEBRUARY 10, 2024

What is a Base Currency? A base currency is the first currency listed in a foreign exchange quote. In this quote example, the pound is the base currency. The second currency stated in the quote is called the quote currency. The second currency stated in the quote is called the quote currency.

Financial Statements 40

Financial Statements Financial Reporting 40

Accounting Tools

JULY 26, 2023

Related Courses Enterprise Risk Management Foreign Currency Accounting What is Translation Exposure? Translation exposure is the risk of having changes in foreign exchange rates trigger losses on business transactions or balance sheet holdings. Related Articles Currency Risk Foreign Exchange Risk Translation Risk

Financial Statements 40

Financial Statements Accounting Accounting 40

Accounting Tools

OCTOBER 12, 2023

Related Courses Foreign Currency Accounting What is a Local Currency? A local currency is the currency most commonly used within a country. This is usually the national currency. An exchange rate is available for converting most local currencies into the currency of another country, such as from the U.S.

Accounting 40

Accounting Accounting 40

Accounting Tools

JUNE 16, 2023

Related Courses Corporate Cash Management Foreign Currency Accounting What is Hard Currency? Hard currency is any currency that is widely accepted for settling payment transactions. It tends not to fluctuate much over the short term, and it is highly liquid in the foreign exchange market.

Accounting 40

Accounting Accounting 40

Accounting Tools

SEPTEMBER 4, 2023

Related Courses Corporate Cash Management Foreign Currency Accounting What is a Forward Exchange Contract? A forward exchange contract is an agreement under which a business agrees to buy a certain amount of foreign currency on a specific future date. The purchase is made at a predetermined exchange rate.

Accounting 40

Accounting Accounting 40

Accounting Tools

SEPTEMBER 26, 2023

Related Courses Accounting for Derivatives and Hedges Corporate Cash Management Foreign Currency Accounting What is a Forward Rate? A forward rate is the price at which a currency trader agrees to trade a particular currency for a different currency on a stated future date.

Accounting 40

Accounting Accounting 40

MineralTree

MARCH 9, 2023

In this article, we explore the common issues with B2B cross-border payments and the steps companies can take to improve their international AP process. B2B cross-border payments are used for a variety of purposes, such as purchasing goods and services, paying salaries, and remitting funds to foreign subsidiaries.

AP 74

AP Reconciling Collections Tax 74

Accounting Tools

OCTOBER 23, 2023

Advantages of Bilateral Netting Bilateral netting greatly reduces the amount of foreign exchange flows between two parties, thereby reducing foreign exchange transaction fees and risks. Related Articles Foreign Currency Netting Intercompany Netting

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Accounting Tools

JUNE 10, 2023

Related Courses Corporate Cash Management Foreign Currency Accounting What is a Quote Currency? When comparing the price of one currency to another, the quote currency is the currency that fluctuates in comparison to the base currency. Dollar, the Euro is the quote currency and the U.S.

Accounting 40

Accounting Accounting 40

Accounting Tools

SEPTEMBER 25, 2023

Related Articles Other Comprehensive Income (podcast) Other Comprehensive Income Reclassifications (podcast)

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Accounting Tools

SEPTEMBER 4, 2023

Related Courses Corporate Cash Management Enterprise Risk Management Treasurer's Guidebook What are Currency Futures? A currency futures contract is a contract to buy or sell currency at a specific price on a future date. Costs of Currency Futures In a forward contract, the bank includes a transaction fee in the contract.

Deposits 40

Deposits Accounting Accounting 40

Accounting Tools

AUGUST 1, 2023

Related Courses Corporate Cash Management Treasurer's Guidebook What is a Currency Pair? A currency pair is the stated value of a currency in comparison to another currency. This concept is used in the foreign exchange market to buy and sell currencies. USD currency pair, it takes 1.2

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Accounting Tools

JANUARY 2, 2024

Currency Risk Currency risk is the possibility that losses will be incurred on foreign currency holdings when exchange rates fluctuate. This risk can be eliminated by forcing counterparties to use the company’s reporting currency for all transactions, or by using hedging transactions.

Corporate Finance 40

Corporate Finance Tax 40

Accounting Tools

SEPTEMBER 4, 2023

Related Courses Accounting for Derivatives and Hedges Enterprise Risk Management Treasurer's Guidebook What is a Currency Swap? A currency swap involves the swapping of currency holdings with another party that already has the required currency. Related Articles Interest Rate Swaps Swaptions

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Accounting 40

Accounting Tools

JUNE 15, 2023

Hyperinflation typically occurs when the central government greatly expands the money supply or when there is a loss of confidence in the currency. When hyperinflation persists, the currency effectively becomes unusable, so that consumers must instead engage in barter transactions or the use of a foreign currency.

Budgeting 40

Budgeting 40

Counto

JANUARY 11, 2024

Foreign-sourced income received in Singapore that meets certain conditions is exempt from taxation. Liberal Foreign Ownership Policy: Singapore’s foreign ownership policy is open and liberal, with no restrictions on the permitted fields of business activity. Additional directors can be local or foreign individuals.

Tax 52

Tax Payroll Accounting Accounting 52

Counto

JANUARY 7, 2024

Opening a Business Bank Account in Singapore as a Foreign Entrepreneur No matter the size of your business, it’s a good idea to keep your personal and business expenses separate by opening a corporate bank account. OCBC Bank Multi-Currency Account does not impose a setup fee or minimum balance requirement.

Deposits 52

Deposits Accounting Accounting Financial Operations 52

Accounting Tools

MAY 7, 2024

Related Articles Constant Dollar Accounting Current Value Accounting Calculate the change in current cost for both inventory and fixed assets, as well as the effect of changes in the general price level. Terms Similar to Inflation Accounting Inflation accounting is also known as general price level accounting.

Financial Statements 40

Financial Statements Accounting Accounting Tax 40

Accounting Tools

OCTOBER 28, 2023

Related Articles Bilateral Netting Foreign Currency Netting Gross Settlement A few clearing institutions compile net transfer information to settlement institutions not only before their cut-off times, but several times per day, which allows for settlement speeds similar to those of gross settlement systems.

Accounting 40

Accounting Accounting 40

Xero

JULY 11, 2022

a tips and tricks panel in our most used reports with support articles and how-to videos. Soon, we’ll be adding more reports into Xero — including General Ledger, Journal and Bank Reconciliation reports — as well as introducing foreign currency into new reports. It’s time to jump in and give new reports a try.

XERO 212

XERO General Ledger Bank Reconciliation Financial Analysis 212

Accounting Tools

JULY 16, 2023

For example, the valuation assertion is not relevant when dealing with a cash account, except in cases where foreign currencies are involved. Related Articles Risk of Material Misstatement Tolerable Misstatement

Financial Statements 40

Financial Statements Auditing Accounting Accounting 40

Accounting Tools

DECEMBER 20, 2023

Related AccountingTools Courses Corporate Finance Credit and Collection Guidebook Enterprise Risk Management Related Articles Business Risk Credit Risk Currency Risk Foreign Exchange Risk Transaction Risk Translation Risk

Corporate Finance 40

Corporate Finance Collections 40

Accounting Tools

JULY 17, 2023

Related Articles Accounting Interpretations FASB Interpretations FASB Pronouncements GAAP Codification GAAP Hierarchy Other Comprehensive Basis of Accounting There is a stated intent to eventually merge GAAP into IFRS, but this has not yet occurred.

Financial Statements 75

Financial Statements Financial Reporting Financial Accounting Accounting 75

Counto

JANUARY 9, 2024

These shareholders can be individuals or corporations, local or foreign. Share Currency: Shares can be issued in any major currency, although Singapore dollars are commonly preferred for convenience. Shareholder Limits: Private limited companies must have at least one shareholder and can have a maximum of 50 shareholders.

Accounting 52

Accounting Accounting 52

Accounting Tools

JUNE 18, 2023

Types of Risk There are many types of risk, including business risk, counterparty risk, credit risk, currency risk, default risk, downside risk, foreign exchange risk, market risk, operating risk, reputation risk, residual risk, system risk, transaction risk, translation risk, and unsystematic risk.

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Accounting Tools

JULY 18, 2023

The mercantile system is a system of managing the economy of a country through the regulation of its foreign trade. Related Articles Free Market Economy Imperfect Market Perfect Market What is the Mercantile System? The goal of this system is to establish a permanent positive balance of trade.

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Accounting Tools

OCTOBER 24, 2023

Related Articles Net Current Assets Operating Current Assets Other Current Assets Examples of Current Assets There are many types of current assets, which vary by industry. Thus, the contents of current assets should be closely examined to ascertain the true liquidity of a business.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Collections 40