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FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials
No problem with that
According to the principle of the stability of the monetary union
Is calculated by the value of the transaction value of the local unit on the date of the transaction
In the case of the existence of differences in the exchange rates of currencies end of the period it opens a new account and close in the income statement
There are two waysare usedin theprocess of translating thefinancial statements preparedin currenciesof foreigncurrencythe main centerorthe Holding Company, andthese methodsare: -1-way translatororthe current rate2-way re-measurement
