ONECCA Examen D'Aptitude Practice Questions - Examen D'Aptitude Professionnelle - Ordre National Des Experts-Comptables Du Cameroun (ONECCA) Exam

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How are unrealized foreign exchange losses (*Pertes latentes de change*) arising from year-end revaluation of foreign currency receivables and payables accounted for under Revised SYSCOHADA?

Recorded in the Balance Sheet in Account 478 (Écart de conversion - Actif) and covered by a mandatory contingency provision (Account 697 / Account 197 or 499) Immediately expensed in the Income Statement without any balance sheet adjustment entry Offset directly against equity without disclosure Ignored until actual cash settlement occurs in the following fiscal year

Correct Answer:

Recorded in the Balance Sheet in Account 478 (Écart de conversion - Actif) and covered by a mandatory contingency provision (Account 697 / Account 197 or 499)

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