Easily Hide EU Currency Field in the Lease Renewal

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How to Hide EU Currency Field in the Lease Renewal

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can a landlord give you a notice of non-renewal of your lease ill provide the answer and thats the topic of this video [Music] hello again everyone im attorney robert flecis if this is your first time here you might want to subscribe right now because if you do youll know where to find me to get answers to your legal questions a landlord can give you notice to not renew your lease but there are different situations that may or may not allow that the first situation is a month-to-month tenancy lets say you had a one-year lease and after a year expires your lease converts to a month-to-month tenancy your landlord decides then not to renew your lease it gives you a notice to vacate and like i said before they can do that but you need to look at the terms of the original lease some leases require the landlord to provide for example a 60-day notice to terminate your tenancy even if youre currently on a month-to-month basis some leases are silenced on the notice period if thats the ca

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Is a change in presentation currency a change in accounting policy?

The change in presentation currency the change in presentation currency is treated as a change in accounting policy and is to be applied retrospectively.

What happens if a functional currency of a foreign operation is different?

If the functional currency is different than the reporting currency, the acquired operation is a foreign entity. If the functional currency is the same as the reporting currency, the acquired operation is a domestic entity.

Is the change in functional currency a change in accounting policy or a change in accounting estimate?

As I have already mentioned above, the change in presentation currency is a change in accounting policy and it is applied retrospectively.

What is a functional currency reporting currency?

A functional currency is the main currency that a company conducts its business. As companies transact in many currencies but report their financial statements in one currency, the foreign currencies have to be translated into the functional currency.

How do you account for a change in functional currency?

The effect of a change in the functional currency is accounted for prospectively. Therefore, an entity translates all items into the new functional currency using the exchange rate at the date of change. The resulting translated amounts for non-monetary items are treated as their historical cost.

Can functional currency and reporting currency be different?

The accounting currency may also be called the reporting currency. The accounting (reporting) currency is not necessarily the same as the functional or transactional currency. The functional currency is what employees and customers use when conducting a transaction, such as a sale.

What is a functional currency in accounting?

An entitys functional currency is the currency of the primary economic environment in which that entity operates. The functional currency can be the dollar or a foreign currency depending on the facts. Normally, it will be the currency of the economic environment in which cash is generated and expended by the entity.

How do you record currency exchange in accounting?

At the date a foreign currency transaction occurs, each asset, liability, revenue, expense, gain, or loss arising from the transaction is recorded in the functional currency of the recording entity using the exchange rate in effect at that date.

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