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Insert Fileds in the Accounting Contract

Insert Fileds in the Accounting Contract

Aug 6th, 2022

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How to Insert Fileds in the Accounting Contract

5 out of 5

1 votes

A forward contract is an agreement between a seller and a buyer, where the seller commits to selling an asset (such as a commodity) to the buyer at a predetermined price, with delivery set for a future date. No physical exchange occurs at the time of signing; it only happens on the specified contract date. The tutorial explains how to record a forward contract from both the seller's and buyer's perspectives, covering aspects like the contract date, asset exchange, and necessary revaluation or amortization for discounts or premiums. The focus is primarily on commodities, such as oil or grain.

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