会计英语：外币业务

　　1.foreign currency transactions外币业务
　　·currency n. 货币 foreign currency 外币
　　·transaction n. 交易 e.g. cash transaction 现金交易 exchange transaction 外汇交易
　　·foreign currency operations
　　foreign currency transaction 外币交易
　　外币交易主要包括:
　　buying or selling products or services priced at foreign currency 买入或卖出以外币计价的商品或劳务；
　　borrowing or lending foreign currency capital 借入或借出外币资金；
　　other transactions priced or settled at foreign currency 其他以外币计价或计算的交易。

　　2.type of currency 货币的种类：
　　·Convertible currency 可自由兑换货币
　　Hard currency 硬通货
　　Soft currency 软通货
　　functional currency 记账本位币 （primary economic environment主要经营环境）
　　·monetary items 货币性项目（closing rate资产负债表日即期汇率）
　　non-monetary items 非货币性项目 （spot exchange rate of the transaction date 交易发生日的即期汇率）

　　3.exchange rate 汇率
　　·exchange/foreign exchange 外汇
　　·exchange gain 汇兑收益　exchange loss 汇兑损失。
　　·sport exchange rate/ spot rate 交易发生日的即期汇率
　　（transaction date 交易日）
　　·closing rate 资产负债表日即期汇率
　　（balance date/reporting date 资产负债表日）
　　（settlement date 结算日）
　　·Current rate 现行汇率
　　Historical rate 历史汇率
　　Lecture example 1 外币货币性项目
　　Landing travel company （Chinese company） signed the contract for purchasing travel buses with a value of USD$100,000 from a US travel bus manufacturing company on Sept. 1, 2007. The buses are transported to Landing company at the end of October, 2007. Landing travel company paid for the buses on Nov. 10, 2007. Assuming USD/CNY exchange rates are as follows:
　　Sept. 1, 2007　　USD/CNY　　7.5
　　Nov. 10, 2007　　USD/CNY　　7
　　Please identify the transaction date and provide the journal entry for the for the foreign currency transaction.
　　转换: $100,000×7.5=RMB￥750,000

　　Sept 1, 2007 record the transaction （rate=7.5）
　　　　　　　　　　Dr Fixed assets-travel buses　750,000
　　　　　　　　　　　 Cr Account payable　　　　　　 750,000

　　转换: $100,000×7=RMB￥700,000
　　　　　Nov. 10, 2007 settlement of the transaction （rate=7）
　　　　　　　　　　　　Account payable reduced from RMB￥750,000 to RMB￥700,000
　　　　　　　　　　　　Dr Account payable　　　　50,000
　　　　　　　　　　　　　 Cr Foreign exchange gain　 50,000
　　　　　　　　　　　　Dr Account payable　　　　700,000
　　　　　　　　　　　　　 Cr Bank deposit　　　　　　700,000
　　Lecture example 2
　　Landing travel company （Chinese company） signed the contract for purchasing travel buses with a value of USD$100,000 from a US travel bus manufacturing company on Sept. 1, 2007. The buses are transported to Landing company at the end of October, 2007. Landing travel company paid for the buses on Jan. 10, 2008. The financial reporting date is Dec. 31 of each year. Assuming USD/CNY exchange rates are as follows:
　　Sept. 1, 2007　　USD/CNY　　7.5
　　Dec. 31, 2007　　USD/CNY　　7.2
　　Jan. 10, 2008　　USD/CNY　　7
　　Please identify the transaction date and provide the journal entry for the for the foreign currency transaction.
　　Sept 1, 2007 record the transaction （rate=7.5）
　　　　　　　　　Dr Fixed assets-travel buses　750,000
　　　　　　　　　　 Cr Account payable　　　　　　 750,000
　　Dec. 31, 2007 retranslation of the transaction at the reporting date （rate=7.2）资产负债表日的折算
　　　　　　　　　Dr Account payable　　　　　　30,000
　　　　　　　　　　 Cr Foreign exchange gain　　　　30,000
　　Nov. 10, 2008 settlement of the transaction （rate=7）
　　　　　　　　　Dr Account payable　　　　　　20,000
　　　　　　　　　　 Cr Foreign exchange gain　　　　20,000
　　　　　　　　　Dr Account payable　　　　　　700,000
　　　　　　　　　　 Cr Bank deposit　　　　　　　　 700,000

　　4.Other entries其他会计分录
　　·when buy foreign currency 买入外币
　　Dr bank deposit—foreign currency account （at spot rate）
　　　 Foreign exchange loss（外币兑换损失）
　　　 Cr bank deposit—RMB account
　　·when sell foreign currency 售出外币
　　Dr bank deposit—RMB account
　　　 Foreign exchange loss
　　　 Cr bank deposit—foreign currency account （at spot rate）
　　Lecture example 3:
　　The Good Health company is a Chinese sport suit manufacture company. Its foreign currency transactions are usually translated at the spot exchange rate, and the foreign exchange gain and loss are recognized in the profit and loss in the period in which they arise. The foreign currency balance on Dec 31, 20X6 was as the following table:

　　Some business transactions happened in the January, 20X7.
　　a） On Jan 8, the company sold the products on credit to a US supermarket and earned revenue of US$100,000. The exchange rate on that day is USD/CNY=8.3. The account should be collected in the later days.
　　b） On Jan 10, the company made short-term borrowing of foreign currency for US$20,000. The exchange rate on that day is USD/CNY=8.3.
　　c） On Jan 15, the company imported raw materials from India for US$50,000 and paid in foreign currency deposit. The exchange rate on that day is USD/CNY=8.3.
　　d）On Jan 20, the company collected the account receivable of US$100,000 for the US supermarket transaction. The exchange rate on that day is USD/CNY=8.35.
　　e） On Jan 30, the company repaid the short-term borrowing of US$20,000. The exchange rate on that day is USD/CNY=8.35.
　　Please produce the accounting entries for the foreign currency transactions.
　　Jan 8　Dr Account receivable—US account　　830,000
　　　　　　　Cr Main operating revenue　　　　　　 830,000
　　Jan 10 Dr Bank deposit —US account　　　 　166,000
　　　　　　　Cr Short-term borrowing —US account　166,000
　　Jan 15 Dr Raw materials　　　　　　　　　　 415,000
　　　　　　　Cr Bank deposit —US account　　　　　415,000
　　Jan 20 Dr Account receivable—US account　　 5,000
　　　　　　　Cr Foreign exchange gain —US account　5,000
　　　　　 Dr Bank deposit —US account　　　　　835,000
　　　　　　　Cr Account receivable—US account　　　835,000
　　Jan 30 Dr Foreign exchange loss —US account　 1,000
　　　　　　　Cr Short-term borrowing —US account　　 1,000
　　　　　 Dr Short-term borrowing —US account　167,000
　　　　　　　Cr Bank deposit —US account　　　　　　167,000

　　5.conversion of foreign currency financial statements 外币报表的折算
　　·All assets and liabilities exchange rate – translated at the prevailing rate at balance date.资产和负债按照报表日的汇率折算
　　·Equity except undistributed profit –translated at spot rate when it occurs.所有者权益除了未分配利润之外，其他项目都是采用发生时的即期汇率。
　　·Revenue and expense items: spot rate at the transaction date 利润表中的收入和费用项目采用交易日的即期汇率或者平均汇率折算。