Sinus Headache And Diarrhea Flu

The year-end (IV)

DIFFERENCES IN FOREIGN CURRENCY

The treatment of exchange differences depend on whether we're talking about monetary or non-monetary items. For the former, we are talking about cash and assets or liabilities that may affect us via collections, payments, loans, etc. In accordance with Rule 11 th of PGC at the close of ejericicio these items shall be valued at the exchange rate at that date charged or credited to the profit and loss account, in particular the accounts 668 or 768.

Regarding non-monetary items are assets or liabilities is not quantifiable and are included in this category fixed assets, investments, stocks and others. In principle, when the partifa is valued at historical cost and have to repay it, will the exchange rate of the date it was recorded initially but the valuation obtained may not exceed the recoverable amount of good. In contrast, when the item is valued at fair value and recognize via net gains or losses arising from valuation changes, as with the equity instruments available for sale, any exchange covered by such profits or losses also be recognized in equity ... And if the gain or loss recognized in profit or loss through profit or loss account, as is the case of equity instruments held for trading, any exchange differences reflected in those losses or gancia also be recognized as profit or loss .

GRANTS

At closing, the impact of subsidies, or donations must be attributed according to very specific criteria:

• When a grant is given to offset operating décifit is charged as income.
• Where authorization to finance expenditure is entered as income accruing in the costs that are being financed.
• When granting with the purpose of acquiring assets or settle liabilities and assets is allocated as income is the year in proportion to the allocation for depreciation or impairment losses or lower the balance, the stock is obtained by rebate half are recognized as revenue in the year in which they are disposed of, financial assets as income for the year in which the sale occurs, correction or low and the cancellation of debt, are recognized in the period in which such cancellation occurs.

Finally, if the subsidy is purely monetary and unearmarked, is recorded as income in the year they are recognized.

CRITERIA CHANGES AND ERRORS

The standard (yet another ...) 22 th of PGC provides treatment to be applied in case of errors or changes of mind. When a change in accounting policy (if the principle of consistency allows us) is retroactive and its effect must be calculated from the exercise oldest from which accounting data are available. If it is income or expense for prior periods to adjust assets or liabilities shall provide or pay the departure of reserves for the year in question, unless it concerns an income or expense for prior years that are already charged to the net.

The treatment of errors is the same, we try to recalculate the impact from the earliest period available and maintain the criteria to update the information in the exercise that aims to close.

Greetings!

http://www.nlsasesores.com/