top of page
Search
  • Writer's pictureThomas Tsang
    • Jan 19, 2020
    • 1 min read

Cash for money changer

Cash foreign currency kept by money changer for money changing business is cash on hand for sales of foreign currencies. They are cash for transactions or cash as a result of changing transaction.


They should be cash on hand as they are resulted from buying and selling of foreign currencies note. Each transaction is matched. Also, the fact that they are cash as cash in nature and not produced by the money changer.


The accounting concept should adopt the financial sector.

3 views0 comments

Recent Posts

See All

When apply discount on lack of marketability (DLOM) and lack of control (DLOC) on enterprise value (EV), it is a multiple of EV x (1-DLOM) x (1-DLOC). But apply the discount on Equity value would lowe

In accordance with SFRS109, investment in equity instruments must be subsequently measured at fair value. In limited circumstances, cost represents the best estimate when recent information not avail

In contract revenue to recognise using input method, one of the key audit procedures is to ascertain the budgeted cost of the project contract is reasonable. We need to test the underlining assumptio

bottom of page