The exchange rate difference arises when the enterprise clears foreign exchange funds that are included in the cost of goods or are used to pay off debts. It is the difference that is formed with a change in the exchange rate of the ruble in foreign currency. Many accountants face certain difficulties in determining the exchange rate difference.
Instructions
Step 1
Recalculate foreign exchange funds in accordance with the rules established by PBU 3/2006 "Accounting for exchange rate differences". Exchange rate differences are determined as of the date of recognition of the company's expenses or income in foreign currency, the date of the advance report, the date of issue or receipt of foreign funds to the cashier, the date of writing off or crediting the currency to the current account. In this case, all operations must be documented.
Step 2
Read the procedure for calculating the exchange rate difference, which is established by PBU 3/2006. It is determined as the difference between the ruble valuation of the asset or liability in foreign currency, which is calculated at the date of acceptance in accounting and the date of the transaction.
Step 3
Use the “reverse” method to calculate the exchange rate difference. To do this, you first need to determine the account balance denominated in foreign currency.
Step 4
After that, multiply this value by the rate of the Central Bank of the Russian Federation, which is set for the current date, i.e. the date of recognition of the transaction in accounting. The result is ruble coverage for the current date. Subtract the ruble coverage as of the date of the transaction from the resulting value. The resulting difference is called the exchange rate difference and is reflected in account 91 "Other income and expenses".
Step 5
Determine the exchange rate difference using the rate difference method. To do this, it is necessary to subtract the previous exchange rate of the Central Bank of Russia from the current exchange rate of the CBR ruble, and then multiply the resulting value by the account balance expressed in foreign currency.
Step 6
Analyze the resulting value. If the exchange rate difference was calculated for accounts receivable and has a negative value, then it refers to the company's income. If positive, then the expense. For accounts payable, the opposite is true.
