Advanced Accounting - Foreign Currency Transactions

What you'll learn
Denominated currency
Exchange rate Quotation
Types of Exchange rates
Forward contract and Hedging with Forward contracts
Requirements
Passion to learn. Interest in finance and accounting. Basic knowledge of accounting terms and concepts
Description
The course gives a detailed overview on accounting for foreign currency transactions. It explains as to how an entity accounts for the transactions which are held in foreign currency. We look at the concepts of denominated money, exchange rate quotations, exchange rates, cash flow hedge, fair value hedge etc.This training is in line with the IFRS standards. IFRS refers to the International Financial Reporting Standards, which are designed as a common global language for business to ensure that accounts are both understandable and comparable on a global basis with a set of uniformity in them. As the international shareholding and trade are growing, there's a dire need of reporting standards which deal with organizations on a global level.All the concepts are explained extensively by the use of various case studies for the purpose of deep and insightful understanding.The training includes the following:IntroductionDenominated currencyExchange rate QuotationTypes of Exchange ratesForward contractHedging with Forward contractsType of HedgesConclusionCurrency Trading is done in Foreign Exchange Market. Currency plays an important role in every part of the world as it is required to conduct foreign trade and businesses. Through Foreign Exchange Market there are many participants who buy, sell and exchange currencies i.e. trillions of dollars. Currency Trading takes place between different countries in order to conduct smooth foreign trade transactions. In this educba's course on Currency Trading you will be learning about Forex and Currency Trading basics, how currencies are quoted, bought and sold. Nationals buy and sell currency, you will be also learning about direct-indirect quotes, bid-offer spread, and market makers. The course will also highlight about various types of currency trading contracts i.e. cash, TOM, spot, forwards, swaps and also about how the risk is managed and how the same is defused.
Overview
Section 1: Introduction
Lecture 1 Introduction Foreign Currency Transaction
Section 2: Forward Contract
Lecture 2 Exchange Rate Quotation
Lecture 3 Forward Contract
Section 3: Forward Exchange Rate
Lecture 4 Understand Forward Exchange Rate
Lecture 5 Working on Example 1
Section 4: Transaction Treatment
Lecture 6 Transaction Treatment
Lecture 7 Transaction Treatment Continues
Lecture 8 Working on Example 2 and 3
Lecture 9 Working on Example 4 and 5
Section 5: Hedging
Lecture 10 Hedging
Lecture 11 Hedging Continues
Lecture 12 Calculate Present Value
Lecture 13 Calculate Present Value Continues
Lecture 14 Firm Commitment
Lecture 15 Type of Hedges
Lecture 16 Cash Flow Hedge
Lecture 17 Cash Flow Hedge Continue
Lecture 18 Working Example 6
Lecture 19 Working Example 7
Section 6: US GAAP
Lecture 20 US GAAP
Lecture 21 Working Example 8
Lecture 22 Working Example 9
Lecture 23 Working Example 10
Lecture 24 Working Example 11
Students,Professionals (majorly Accountants, Auditors, Accounting Consultants, and Chartered Financial Analysts etc.) who want to excel in global organizations by learning about global standards that ply in their working.,Anyone who wants to learn about International Financial Reporting Standards and improve the knowledge about the working of organizations on a global level.

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