Financial Sector (Collection of Data) determination No. 85 of 2005 - Reporting Standard ARS 320.4 (2005) - Bill Acceptances and Endorsements
Valuation and currency conversionValuation and currency conversion
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Valuation and currency conversion
Closing balances should be reported at market price effective at the reference date. Where denominated in foreign currency, market values in foreign currency should be converted to AUD at the spot rate effective as at the reference date.
Basis of preparation
Unless otherwise specifically stated, institutions are to comply with Australian accounting standards regarding the measurement of asset, liability and equity items.