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What are the entries for currency forward & swaps contracts not as a hedge item?


Hi,
How do we account for currency forward & swaps contracts?

Example
Company enters into a Forex forward contract with a bank. The company's books functional currency is in USD.
The forex forward contract is as follows:-
Trade date: 21/11/13.
Value date: 9/12/13
Buy EUR 70,747.95
Sells JPY 9.5m

What will be the accounting entries for the above?

Thank you.

asked Dec 3, 2014 in IAS 32 - Financial Instruments: Presentation by anonymous

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