THE ROLE OF BOOK RECORDS OF EXCHANGE TRANSACTIONS IN BANKS

Tetiana Ruzhanska

Abstract


The article is dedicated to essential aspects of book records of banks operations with foreign currency. The article reveals the content of exchange transactions of banks, the decorous methods of their accounting have been studied and also the important aspects of  exchange transactions accordingly to up-to-date demands of effective legislation and International standards of financial reporting have been investigated as well. The importance of exchange transactions presentation under the principles of relevance and true presentation has been proved considering the importance of exchange operations in ukrainian economy. Moreover, the certain essential statements of international standards have been analyzed and which should be taken into consideration when accounting such operations, the importance of giving attention to book records and present situation of banks exchange operations in Ukraine has also been studied. The article embraces the review of modern literature and the latest investigations of scientists regarding exchange transactions,  the main determinations have been figured out for clear understanding the essence of exchange operations of banks and the basic accounting transactions have been presented there also.

Keywords


accounting; foreign exchange transactions; bank; currency; international standards

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