Posting EoY realized exchange gain/loss revaluations

Hi,

As I understand from a client of ours, based on IFRS revaluation of gains/losses should be recognized in Profit & Loss account as at 31/12/20xx and transferred to realized Exchange gain/loss after closing the period.

The client currently does monthly revaluations that post to unrealized exchange gain/loss accounts (i.e. using the method Realized and Unrealized Gain/Loss) that are reversed on the 1st day of the next month. Can the client switch to Recognized Gain or Loss at year end then then back to unrealized during the next year?

I am not sure how EOY revaluations should be handled.

Marios

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