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BBalls

Revalue the remaining foreign currency denominated balance sheet items!

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Very nice find. Thanks for posting. This is the kind of " first cup of coffee" in the morning news article that I love to read! :)

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I'm gonna pin this one for the time being so everyone gets a chance to see it

Well done K98 and thanks to the original poster BBalls :D:D:D

Edited by Kanga
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BB..You finally put up an awesome post worth every key stroke. This is exactly the information we all need to know about. RV just around the corner, our time is coming very soon. Thank you for such great info..

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Ummmm...... :unsure:

(ii) indentify and propose to write-off non-performing loans to defunct state-owned enterprises;

(iii) propose a course of action for other remaining unreconciled accounts;

and (iv) after the balance sheets have been cleaned up, revalue the remaining foreign currency denominated balance sheet items.

Ok, JMO

I see a loss in assets due to loans in default (non-performing loans).

After moving these loans from the asset column to the liability column they will recalculate their assets (clean up the balance sheets).

"revalue the remaining foreign currency denominated balance sheet items"

I would agree....people seem to want to ream more into it than there is.

Again, an adjustment to the books, not the currency itself.

I realize my views aren't the most popular on the forum (looks like my reputation has gone backwards :lol: ), and I'm sorry for being a downer, but I'm just callin' it the way I see it........but would love to be wrong!

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LOL....see there's a "neg" already, although no post to go with it, or to dispute what I wrote.

I know, it's because I'm raining on the "parade".....but guess what?.......it's my parade too, and it's likely I hold more dinar than most (for 7 LONG years come Aug.), but I can't base my speculations and expectations on what I believe are misconceptions.

Edited by MrFnHappy
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BBalls,

Thanks for the indepth work you have done. I appreciate your input and time invested to bring us news like this. I appreciate all you and others do to keep us all up to date and informed.

Sincerely,

Don

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Pretty much says it... hang on tight!! RV is a must do!! SOON God willing!!

Gonna need a roll of duct tape to hang on any tighter!wink.gif

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LOL....see there's a "neg" already, although no post to go with it, or to dispute what I wrote.

I know, it's because I'm raining on the "parade".....but guess what?.......it's my parade too, and it's likely I hold more dinar than most (for 7 LONG years come Aug.), but I can't base my speculations and expectations on what I believe are misconceptions.

Your assessment is supported by Scooter in both posts and chat.

This article concerns getting the 2 largest banks in shape to do business in a growing economy.

The write-off of bad loans and proper capitalization are required to provide a stable foundation.

Still good news, and no need for negs.

Some here seem to substitute negatives for lack of High School Diplomas.

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Your assessment is supported by Scooter in both posts and chat.

This article concerns getting the 2 largest banks in shape to do business in a growing economy.

The write-off of bad loans and proper capitalization are required to provide a stable foundation.

Still good news, and no need for negs.

Some here seem to substitute negatives for lack of High School Diplomas.

<Big Smile .............phew!!........ glad it was you and not me a big plus one for you>biggrin.gif Things arn't always made out to what they seem. sad.gif

revalue the remaining foreign currency denominated balance sheet items.

As noted earlier, some balance sheet accounts (primarily AR, AP, and cash) may be held in foreign

currencies. The system maintains balances for these accounts at their historical rates. A true gain

or loss is not realized on these amounts until they are disposed; that is, when cash is received for

a receivable or when cash is paid for a payable. Likewise, gains or losses are not realized on cash

accounts until they are closed or transferred to a base currency account. Therefore, the actual value

of foreign currency accounts at the current exchange rate may be quite different from the value at

the historical rate.

To ensure that unrealized gains and losses are accurately represented on the balance sheet, you

execute the Foreign Exchange Revaluation (25.13.9) every period prior to printing your statements.

Foreign Exchange Revaluation (25.13.9) calculates the value of foreign currency amounts using

the current exchange rate and creates unrealized gain/loss transactions. The transactions that are

created will vary depending on whether the debit/credit entries for each transaction are in the same

or different currencies. Above, we show the transactions that are created when the currencies are

the same.

If the debit/credit entries of the transaction to be revalued are in different currencies, the revaluation

creates an adjusting entry for the Unrealized Exch Gain/Loss Acct in General ledger Control

(25.24).

After reviewing the revaluation transactions (and deleting any extraneous transactions), you post

them. Revaluation transactions are type FX.

Foreign Exchange Revaluation 2

ID: 3326-QAD2 | Version: 2 | Date: 1/4/08 6:14:54 AM

Once you execute the revaluation for a specific date, you cannot rerun it.

N O T E

The revaluation function revalues all foreign currency accounts using the current exchange

rate. If you hold fixed assets in foreign currencies, fixed asset accounts will also be

revalued. Prior to posting, you must manually delete the revaluation transactions for fixed

asset accounts (and any other accounts whose balances should be valued at the historical

exchange rates) using GL Transaction Delete/Archive (36.23.2) or Standard Transaction

Maintenance (25.13.1

http://resources2.know.qad.com/TG-Financials/g2/g10/3326-QAD2.pdf

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I just found out that, people I was worrie about, most to help after RV,has a few thousand.They didn't even know it was about to revalue.I was so worrie about them,they are having medical issues,he lost his job and she can bearly pay the bills.They could lose there home.I'm so happy they the DINARS.There so happy I CALL TOLD ,THEM, ABOUT, WHAT, WAS GOING ON.I'M ALL SMILES.THANK GOD!!!! OH' BY THE WAY GREAT POST,THANKS!!!!

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