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What is Consummated FX Translation Entry?

This represents accounting for currency gains or losses that are realized or consummated. Example of this type includes the currency gains realized on the amounts payable to broker and the amount actually paid to the broker as recorded in the functional currency. The difference between the amount payable and the actual amount paid recorded in the functional currency represents the realized currency gains or losses. This is called ‘Consummated FX translation entries’.

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