The following is the general method of accounting treatment: accounting treatment of exchange gains and losses.
1. Calculation of exchange gains and losses at the end of the period
(1) At the end of the period, the ending balance of foreign currency accounts is converted according to the ending exchange rate, and the difference between the converted amount and the book amount is recognized as exchange gains and losses.
(2) Calculation of exchange gains and losses in practice: For example, the calculation of exchange gains and losses at the end of the period in Example 9 in the textbook can be easily calculated by registering the foreign currency account subsidiary ledger:
Accounts receivable-USD account
Date summary debit balance
Original currency exchange rate RMB original currency exchange rate RMB original currency exchange rate RMB
12.65438+ balance at the beginning of October 100000 8.4 840000
5 Exit 200000 8.31660000 300000 2500000
20 Payment recovery100000 8.35 835000 2000001665000
3 1 exchange gain and loss 5000 200000 8.35 1670000
(Calculation of exchange gains and losses of accounts receivable: According to the subsidiary ledger registration, the accounts receivable on June 365438+February 3 1 amounted to $200,000, and the book amount was1665,000 yuan, but it was converted into1670,000 yuan at the year-end exchange rate of 8.35, so the debit position of accounts receivable should be increased by 500,000 yuan. Accounting treatment is as follows:
Debit: Accounts receivable-$5,000
Loan: the financial cost is 5000 yuan.
This is the calculation of the exchange difference at the end of the month. Other foreign currency accounts and exchange gains and losses are calculated as follows:
Accounts payable-USD account
Debit Balance Summary Date
Original currency exchange rate RMB original currency exchange rate RMB original currency exchange rate RMB
12.65438+1The balance at the beginning of October was 584,420 yuan.
18 purchasing materials160000 8.351336000 2100001756000.
3 1 exchange gain and loss 2500 210000 8.351753500
Bank deposit-USD account
Debit Balance Summary Date
Original currency exchange rate RMB original currency exchange rate RMB original currency exchange rate RMB
12.65438+1the balance at the beginning of October is 200000 8.4 1680000.
10 loan180000 8.31494000 380000 3174000
12 purchase payment 220000 8.318260001600001348000
20 Payment recovery100000 8.35 835000 260000 2183000
3 1 repayment180000 8.35150300 0 80000 680000.
3 1 exchange gain/loss1200082008.10008000806
Short-term loan-USD account
Date summary debit balance
Original currency exchange rate RMB original currency exchange rate RMB original currency exchange rate RMB
12.65438+ opening balance 0 8.40
10 loan180000 8.314940001800001494000.
3 1 repayment180000 8.3515030000 (borrowed) 9000.
3 1 exchange gain and loss 900008.350
(3) If the above-mentioned typical foreign currency subsidiary ledger is not registered in the textbook, its exchange gains and losses can be quickly calculated according to the following formula:
Exchange gain/loss = converted amount at the end of the period-book amount at the end of the period = RMB balance in foreign currency account at the end of the period-(RMB balance in foreign currency account at the beginning+RMB increase in foreign currency account-RMB decrease in foreign currency account)
For example, the above short-term loan exchange gain and loss = 0-(0+1494000-1503000) = 9000 (RMB).
If the calculation result is "+",it means that the foreign currency account has increased; If the calculation result is "-",it means that the number of foreign currency accounts has decreased.
The exchange gain and loss of the above-mentioned short-term loan is "+9000", that is, the "short-term loan-USD account" has increased by 9000 yuan, and its accounting treatment is as follows:
Debit: The financial expenses are 9000 yuan.
Loan: short-term loan-$9,000.
After calculating the exchange gains and losses of each foreign currency account, you can make compound entries:
Debit: Accounts receivable-$5,000
Accounts payable-$2,500
Financial expenses 13500
Loan: bank deposit 12000.
Short-term loan 9000
2. Channels for allocating exchange gains and losses
Exchange gains and losses should be handled according to different situations:
(1) Exchange gains and losses in the preparation period are included in the long-term deferred expenses, and are included in the profits and losses in the month when production and operation are started;
(2) Exchange gains and losses arising from special foreign currency loans related to the purchase and construction of fixed assets shall be handled in accordance with the principle of handling borrowing costs;
(3) In addition to the above circumstances, exchange gains and losses shall be included in the current financial expenses;
(4) The difference between the bank's buying and selling and the exchange rate caused by the bank's settlement and sale of foreign exchange, buying foreign currency or different exchanges is included in the current financial expenses.
Translation of Foreign Currency Statements (Understanding)
1. Translation method of foreign currency statements
(1) The translation methods of foreign currency statements include current exchange rate method, current and non-current item method, monetary and non-monetary item method and temporal method.
(2) The translation of foreign currency statements should be clear:
Suppose we set up a subsidiary in the United States, and the 2004 annual report has a balance sheet (total assets of US$ 6,543,800+0,000), profit and profit distribution table. Because it is a US dollar table, it cannot be directly added to the RMB table at the time of merger, and the US dollar must be converted into RMB.
If all items in the balance sheet, profit and profit distribution table are converted at the same time by 1: 8, the total assets will be 8 million yuan, and the statements will be balanced. But this is not in line with the conversion theory (because different projects have to bear different foreign exchange risks). If all assets, all liabilities, all profits and losses and profit distribution amounts are converted at the current exchange rate (assets and liabilities are converted at the end of the year, and profits and losses are distributed at the annual average exchange rate), only the paid-in capital, capital reserve and surplus reserve in owners' equity are converted at the historical exchange rate. This method is called the current exchange rate method (because most projects use the current exchange rate).
Converting all assets at one exchange rate is too simplistic and should be improved. There are two ways to improve it: one is to divide all assets into current assets and non-current assets (as well as liabilities). Because current assets bear foreign exchange risks (if there is USD 65,438+000, the RMB converted from exchange rate fluctuations is different), so it is converted at the current exchange rate; Non-current assets do not bear foreign exchange risks (for example, once fixed assets are purchased, exchange rate fluctuations are meaningless to them), so historical exchange rates are used. This method is called flowing and non-flowing project method. The second is to divide all assets into monetary assets and non-monetary assets. Similarly, monetary assets use the current exchange rate and non-monetary assets use the historical exchange rate. This method is called monetary and non-monetary item method.
The idea of tense method is different from the above. It believes that conversion can only change the unit of measurement (such as USD or RMB) and cannot change the measurement attributes (such as historical cost and current market price). If the inventory at the end of the year is 100 USD, it shall be priced according to the method of lower cost or market price. If the market price at the end of the year is $65,438+020, the inventory on the statement is $65,438+000 at historical cost. At this time, it will be converted at the historical exchange rate. If the market price at the end of the year is $70, the inventory on the statement is $70 at the market price. At this time, it will be converted at the current exchange rate. This is the idea of tense method.
2. Translation of China's foreign exchange statements
(1) balance sheet conversion
① All assets and liabilities are converted into the functional currency of the parent company according to the market exchange rate at the end of the consolidated accounting statements;
② Except for "undistributed profit" items, the owner's equity items are converted into the functional currency of the parent company according to the market exchange rate at the time of occurrence. "Undistributed profit" is directly filled in according to this item in the profit distribution table.
(3) The difference between the converted assets, liabilities and owners' equity items shall be reflected as the conversion difference of foreign currency accounting statements under the item of "undistributed profits".
(2) Conversion between income statement and profit distribution statement
Items that reflect the amount in the income statement and profit distribution statement are converted into the functional currency of the parent company according to the average exchange rate during the accounting period of the consolidated accounting statements, or can be converted into the functional currency of the parent company by using the market exchange rate at the end of the consolidated accounting statements. When the market exchange rate at the end of the consolidated accounting statements is converted into the functional currency of the parent company, it shall be explained in the notes to the consolidated accounting statements.