Professional Documents
Culture Documents
1. Gold Acquisition
- Physical gold
T. Code Indicator General Ledger Amount
APG Dr. Physical gold holding In KHR
APG Cr. Nostro account In US Dollar
- Gold certificates
T. Code Indicator General Ledger Amount
AGC Dr. Gold certificates In KHR
AGC Cr. Nostro account In US Dollar
2. Gold Deposits
The gold price and exchange rate to be used in determining the amount
are the latest market price and exchange rate used for gold revaluation.
For example, the latest revaluation rates are 1 gold ounce = 1,100USD and
1USD = 4,000KHR for gold price and exchange rate respectively; so the
amount would be 4,400,000,000KHR when making a term deposit of
1,000 gold ounce (1,000 gold ounce x 1,100USD x 4,000KHR).
- Principle liquidation
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The gold price and exchange rate to be used in determining the amount
are the latest market price and exchange rate used for gold revaluation.
- Principle exercise
T. Code Indicator General Ledger Amount
EGC Dr. Physical gold holding In KHR
EGC Cr. Gold certificates In KHR
The gold price and exchange rate to be used in determining the amount are the
latest market price and exchange rate used for gold revaluation.
- Exercise cost
T. Code Indicator General Ledger Amount
EFC Dr. Fee charge In USD
EFC Cr. Nostro account In USD
Revaluation is done for changes in gold market price and changes in exchange
rate simultaneously and aggregately in order to record total unrealized
revaluation amount into the same equity account.
- Gold certificates
T. Code Indicator General Ledger Amount
RLC Dr. Unrealized revaluation G/L on gold certificates In KHR
RLC Cr. Gold certificates In KHR
7. Sales of gold
Before the recording of a gold sale, gold revaluation has to be done (refer to 6.
Monthly revaluation for gold) by using gold price and exchange rate at the sale
date. The following recording entries shall to be posted once the revaluation is
done.
- Physical gold holding
T. Code Indicator General Ledger Amount
SPG Dr. Nostro account In USD
SPG Cr. Physical gold holding In KHR
- Gold certificates
T. Code Indicator General Ledger Amount
SGC Dr. Nostro account In USD
SGC Cr. Gold certificates In KHR
FIFO method is used in order to determine the cost of gold sold. This
cost is compared to current value of gold in KHR at the date of sale.
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GL Name GL Number
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