Why do we need to do Foreign Currency Evaluation

Question Posted / guest

2 Answers
12610 Views
IBM, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Why do we need to do Foreign Currency Evaluation..

Answer / satish kulkarni

When we do balance sheet, open items in
vendors/customer/ledger line item which are in foreign
currency should be shown correctly.

As per account standard--11 of ICAI these should valuated
at balance sheet date & what ever gain/loss should be
accounted for.

This is reason we do foreign currency valueation.

In SAP customization done through OB59 & OBA1. We have
define method for valuation. In method along with other
parameter we define which rate should be taken to valuate
foreigh currency.

Actual valuation we do by T-code F.05

Regards

Is This Answer Correct ?

8 Yes

1 No

Why do we need to do Foreign Currency Evaluation..

Answer / kiran kumar kakolu

In order to check the accounts both in local company and
parent company we need to do foriegn currency evaluation.

With this we can calculate the direct quote of local
currency to foreign currency

Is This Answer Correct ?

3 Yes

4 No

Post New Answer

More SAP FI-CO (Financial Accounting & Controlling) Interview Questions

Hi, sap gurus can anybody send me the shot cut configuration & fico tickets for the same? 1. App, 2. asset accounting, 3. integration fi with sd & mm regards, janardhana rao email: pjanardhan80@gmail.com

0 Answers

What is a client in an R3 System? (Multi)

5 Answers

What do you understand by product costing in sap controlling? : cost center accounting

0 Answers

can any one explain briefly about solution manager in sap

0 Answers IBM,

What is purchase Cycle-Give journal entries.How FI effected( FI-MM Integration)

1 Answers KPIT,

Please give detail information about country india version customizing setting steps?

2 Answers HCL,

How is it possible to apply 2 different overhead rates for 2 different finished goods?

0 Answers

Hi everyone, Im looking for contact numbers of Ravikumar(reliance global services), sathyanarayana(ilogic, compu learn). It would be great help if anyone can help me in finding above persons number. Actually Im looking for product costing online training, your suggestion are welcome....Thanks.

2 Answers

5) What is the use of Rec.account and open item management, for which account we

3 Answers IBM,

how to send dunning ntife by email to customer?

0 Answers CTS, SAP Labs,

What is the internal order type to create the statistical order.?

1 Answers CGI,

Tell me the 3 to 4 functional specification?

0 Answers

For more SAP FI-CO (Financial Accounting & Controlling) Interview Questions Click Here