Create Revaluation Entry

Use this screen to revalue balance sheet accounts in order to recognize realized and unrealized gains and losses.

Recognizing currency-related gains and losses enables you to do the following:

  • Identify translation adjustments in Other Comprehensive Income (OCI) when preparing financial statements.
  • Comply with Generally Accepted Accounting Principles (GAAP) standards for disclosure of comprehensive income.

Costpoint gives you the option of either including OCI as an additional section on the income statement or creating a separate Statement of Comprehensive Income.