Not all that glitters is gold - not all foreign currency is what it seems? a perspective of financial institutions /
The financial recession started in Hungary in the fall of 2008, resulting in the deterioration of the financial market due to hectic exchange rates and higher loan payments in consequence of the weak Hungarian Hungarian Forint. The majority of loans in Swiss Frank and Japanese Jen diminished, the co...
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| Dokumentumtípus: | Könyv része |
| Megjelent: |
University of Szeged Faculty of Economics and Business Administration
Szeged
2013
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| Sorozat: | Proceedings of the "Scientific Management" and Management Science Today International Scientific Conference
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| Kulcsszavak: | Pénzügy, Bankügy, Számvitel |
| Tárgyszavak: | |
| Online Access: | http://acta.bibl.u-szeged.hu/57889 |
| Tartalmi kivonat: | The financial recession started in Hungary in the fall of 2008, resulting in the deterioration of the financial market due to hectic exchange rates and higher loan payments in consequence of the weak Hungarian Hungarian Forint. The majority of loans in Swiss Frank and Japanese Jen diminished, the conditions of applying for loans in foreign currency (exclusively the Euro) became strict, and the existing portfolios also decayed Therefore the booked provisions increased and the loss derived from the above became higher due to the new regulations introduced in year 2010 and 2011 in order to make relief for households indebted in foreign currency. The article introduces different definitions of foreign currency items included in accounting rules and other books, and shows that these definitions are not standardized/unified. It is proven that the same handling of foreign currency and foreign currency-based transactions do not distort the true and fair picture. However, the direct application of it in the determination of the foreign currency position of an enterprise could be misleading – regarding the impairment of foreign currency-based transactions. The article introduces the impact of “home safety package” on FX-positions and outlines some technical problems to overcome. |
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| Terjedelem/Fizikai jellemzők: | 165-178 |
| ISBN: | 978-963-306-176-3 |