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- The Cash and Cash Equivalents section of COA: cash and bank accounts, the PDCs Received account.
- The Trade and Other Current Receivables section of COA: the Current Trade Receivables from Customers account, the Deposits Paid to Suppliers account.
- The Trade and Other Current Payables section of COA: the Current Trade Payables and Deposits from Customers accounts.
- The Staff Settlements (Liability) section of COA: the Staff Salary Settlements and Unpaid Employee Business Expenses accounts, the PDCs Issued account.
- The Staff Settlements (Assets) section of COA: the Prepaid Employee Business Expenses account.
Your organization may have foreign currency accounts in other sections of COA which also will be revalued.
The following example demonstrates how a bank account is revalued during the month-end closing.
Example.
On June 30, the bank account had a balance of 23,000 EURO; the exchange rate with respect to the accounting currency (UAE Dirham) was 4.40. The balance in the accounting currency is 101,200 Dirham.
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