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September 11, 2024
Question

Currency Revaluation Reversal

  • September 11, 2024
  • 0 replies
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I run a currency revaluation on 31Aug2024 and I intend to reverse the Forex gain/loss (unrealised) amount reported in my book on 1Sep2024. 

Please note that - this reversal action is not to "delete" or "void" the revaluation result/impact posted into the PnL on 31Aug2024, but merely to show that if im viewing the Co.'s PnL on 1Sep2024, the Forex gain/loss resulted from the revaluation done on 31Aug2024 has been offset against the reverse revaluation i did on 1Sep. 

Can anyone advise me how can I perform the abovesaid steps on the revaluation reversal on 1Sep2024?