Currency translation definition
Currency translation. For the purpose of accounting, currency translation entered into the Joint Account shall be made in accordance with following guidelines: The rate of exchange to be used for the conversion into U.S. dollars of cash calls received in Renminbi shall be the arithmetic average of the buying and selling rates of exchange applicable to any individual or commercial entity quoted by the People's Bank of China at 11:00 a.m. on the date of receipt of such cash in the Operator's bank account(s). If the relevant date is a non-business day of the People's Bank of China, the rate quoted on the previous business day by the People's Bank of China shall apply. All other transactions recorded in the Joint Account which are made in Renminbi shall be translated into and recorded in U.S. dollars at the rate of exchange as quoted above on the last business day of the previous month, while those transactions which are made in currencies other than Renminbi and U.S. Dollars shall be recorded in U.S. dollars at the actual cost in U.S. dollars of effecting the transaction. Neither CUCBM nor the companies comprising the Contractor shall experience an exchange gain or loss, at the expense or benefit of the other Party. The Operator shall make its best efforts to minimize any exchange loss. All gains or losses from currency conversion or translation shall be recorded in the Joint Account.
Currency translation. For the purpose of accounting, currency translation entered into the Joint Account shall be made in accordance with following guidelines: The rate of exchange to be used for the conversion into U.S. dollars of cash calls received in Renminbi shall be the mid-rate of exchange applicable to any individual or commercial entity quoted by the People’s Bank of China at 11:00 a.m. on the date of receipt of such cash in the Operator’s bank account(s). If the relevant date is a non-business day of the People’s Bank of China, the rate quoted on the previous business day by the People’s Bank of China shall apply. All other transactions recorded in the Joint Account which are made in Renminbi shall be translated into and recorded in U.S. dollars at the rate of exchange as quoted above on the last business day of the previous month, while those transactions which are made in currencies other than Renminbi and U.S. dollars shall be recorded in U.S. dollars at the actual cost in U.S. dollars of effecting the transaction. Neither CUCBM nor the companies comprising the Contractor shall experience an exchange gain or loss, at the expense or benefit of the other Party. The Operator shall make its best efforts to minimize any exchange loss. All gains or losses from currency conversion or translation shall be recorded in the Joint Account.
Currency translation. For the purpose of accounting currency translation entered into the Joint Account shall be made in accordance with following guidelines: The rate of exchange to be used for the conversion into U.S. dollars of cash calls received in Renminbi shall be the arithmetic average of buying and selling rates of exchange applicable to any individual or commercial entity quoted by Bank of China at 11:00 a.m. on the date of receipt of such cash in the Operator's bank account(s). If the relevant date is a non-business day of the Bank of China, the rate quoted on the previous business day by the Bank of China shall apply. All other transactions recorded in the Joint Account which are made in Renminbi shall be translated into and recorded in U.S. dollars at the rate of exchange as quoted on the last business day of the previous month, while those transactions which are made in currencies other than Renminbi and U.S. dollars shall be recorded in U.S. dollars at the actual cost in U.S. dollars of effecting the transaction. Neither CNPC nor the companies comprising the Contractor shall experience an exchange gain or loss, at the expense or benefit of the other Party. -------------------------------------------------------------------------------- 81 Zitong Block Petroleum Contract ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ts to minimize any exchange loss. All gains or losses from currency conversion or translation referred to in this Accounting Procedure shall be recorded in the Joint Account.
Examples of Currency translation in a sentence
Currency translation into Euros shall be made by using the simple arithmetic average of the telegraphic transfer selling (TTS) rates on the last business day of each calendar month of the relevant Calendar Quarter quoted by Bank of Tokyo-Mitsubishi UFJ.
Currency translation adjustments and other.......................
Currency translation adjustments are accumulated in a separate section of stockholders' equity.
Currency translation adjustments from local functional currency countries resulting from fluctuations in exchange rates are recorded in other comprehensive income.
Currency translation between Euros and US dollars for determining Completion Working Capital and Estimated Working Capital shall be computed at the rate of 1.2132 US dollars to 1 Euro.
Currency translation adjustment, net of tax ........................
Currency translation, if any, shall take place as provided in the LPT Reinsurance Agreement.
Currency translation adjustments ...........................................
Currency translation adjustments, -- -- -- -- (556) (556) (556) reclassification for loss included in net income.....................
More Definitions of Currency translation
Currency translation. For the purpose of accounting, currency translation entered into the Joint Account shall be made in accordance with following guidelines: The rate of exchange to be used for the conversion into Dollars of cash calls received in Renminbi shall be the arithmetic average of buying and selling rates of exchange applicable to any individual or commercial entity quoted by Bank of China at 11:00 a.m. on the date of receipt of such cash in the Operator's bank account(s). If the relevant date is a non-business day of the Bank of China, the rate quoted on the previous business day by the Bank of China shall apply. All other transactions recorded in the Joint Account which are made in Renminbi shall be translated into and recorded in Dollars at the rate of exchange as quoted above on the last business day of the previous month, while those transactions which are made in currencies other than Renminbi and Dollars shall be recorded in Dollars at the actual cost in Dollars of effecting the transaction. The Operator shall use its best efforts to minimize any exchange loss. All gains or losses from currency conversion or translation shall be recorded in the Joint Account.