The exchange rate is the exchange ratio between two currencies. The exchange difference is the difference resulting from the conversion of a certain number of units of a currency into another currency at different exchange rates.
The paper summarizes the main provisions contained in the accounting regulations at hand regarding the assessment of foreign currency claims and debts denominated in ROL and the settlement which is based on a foreign exchange rate in the following moments: initial recognition, ending every month (monthly assessment) , at the end of the financial year (at the balance sheet date) and at the settlement date.
Author: Turucko Laura
Teacher: Cozma Ighian Diana