Hi, Would the reversal of the unrealized forex be realized upon payment? Say in FY20X7 I had a GBP1mil Debtor valued at 1.2USD which is the revalued to 1.3USD at the end of the year. Do I have a 0.1mil unrealized gain which I reverse out in the beginning of the subsequent year. Then, the debtor makes payments in FY20X8 when exchange rate is 1.1USD with a realized loss of 0.1mil and I am left with: USD0.1mil realized loss USD0.1mil unrealized loss (reversal of gain) In the FY20X8 financial statements is it acceptable to record an unrealized loss on a zero balance foreign currency account since the payment has been made? Or should the unrealized loss be realized as well?
