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What Are The Different Currency Conversion Types? |
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Answer» Corporate: This is an EXCHANGE rate, generally a STANDARD market rule, determined by the senior financial MANAGEMENT of an organization, which will be used throughout the organization. Spot: An exchange rate entered to perform conversions BASED on the rate on a specific date. It applies to the immediate delivery of a currency. User DEFINED: An exchange rate that is specified when a foreign currency journal entry is made, that does not have a daily exchange rate. Corporate: This is an exchange rate, generally a standard market rule, determined by the senior financial management of an organization, which will be used throughout the organization. Spot: An exchange rate entered to perform conversions based on the rate on a specific date. It applies to the immediate delivery of a currency. User Defined: An exchange rate that is specified when a foreign currency journal entry is made, that does not have a daily exchange rate. |
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