foreign exchange transactions and types of accounts
123088
The foreign exchange (currency or forex) market exists wherever one currency is traded for another. It is the largest market in the world, in terms of cash value traded, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. Retail traders (small investors or speculators) are a minute part of this market, may only participate indirectly through brokers or banks, and may be targets of forex scams.\n\nMarket size and liquidity\nThe foreign exchange markets is unique because of:\n\nits trading volume, \nthe extreme liquidity of the market, \nthe large number of, and variety of, traders in the market, \nits geographical dispersion, \nits long trading hours - 24 hours a day (except on weekends). \nthe variety of factors that affect exchange rates, \nAverage daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study Triennial Central Bank Survey 2004\n\n$600 billion spot \n$1,300 billion in derivatives, ie \n$200 billion in outright forwards \n$1,000 billion in forex swaps \n$100 billion in options. \nExchange-traded forex futures contracts were introduced in 1972 at the Chicago Mercantile Exchange and are actively traded relative to most other futures contracts, but constitute a very small part of the overall forex market.\n\nThe ten most active traders account for almost 73% of trading volume, according to The Wall Street Journal Europe, (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The bid/ask spread is the difference between the price at which a bank or market maker will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually only 1-3 pips. For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203. Minimum trading size for most deals is usually $1,000,000.\n\nThese spreads do not apply to retail customers. To individuals, banks will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travellers' cheques.\n\nTrading characteristics\nThere is no single unified foreign exchange market. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency instruments are traded. This implies that there is no such thing as a single dollar rate - but rather a number of different rates (prices), depending on what bank or market maker is trading. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs\nThe main trading centers are in London, New York, and Tokyo, but banks throughout the world participate. As the Asian trading session ends, the European session begins, then the US session, and then the Asian begin in their turns. Traders can react to news when it breaks, rather than waiting for the market to open.\n\nThere is little or no 'inside information' in the foreign exchange markets. Exchange rate fluctuations are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in GDP growth, inflation, interest rates, budget and trade deficits or surpluses, and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time.\n\nCurrencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.\n\nOn the spot market
299768
short answer, get MYOB and pre-select the business type, it will give you a complete chart of accounts applicable to that type of business.\n\nThere are some basic line items that every business will use, but in essence, you can, subject ot accounting standards and generally accepted accounting principles, create what you want.
392453
Unfortunately, the three currencies that you mention aren't exactly high demand. Currency exchanges pay less for them because they are harder to sell. It also depends on where you are - The airport currency exchange in Miami or Orlando would give you a pretty good rate, but the currency exchange at Los Angeles airport probably won't because it's a lot harder for them to sell.\nWhere are you? I would base a specific reply on that information.
579296
It depends on which currency you are measuring 'profit' in.\n\nIf the price of a 'foreign' share varies in that country's currency or the exchange rate between currencies vary, the ADR price will vary to compensate with either or both. So, it won't matter.\n\nBy buying 'foreign' currency, you are subjecting the value of those funds to exchange rate variation. It could result in profit or loss, depending upon how you measure it.
44022
You need to go to fxcm.com and metatrader.net   those sites will be of great help to you.\n\nbabypips.com will teach you all the general info about the forex!!\n\nhappy trading.
407705
hi, well 'posting' is quite a broad term and I presume you mean 'posting a transaction' or 'posting an entry'. Not trying to sound like your teacher; but 'posting' will depend on each kind of transaction. There are 1) assets, 2) liabilities, 2) equities, 4) revenues and 5) expenses. The 1st three items are reflected in the Balance sheet while the last two in the income statement. Asset and expenses, when increased are DEBIT, when they decrease are CREDIT (DEBIT and CREDIT are two sides of your Journal, the right side is DEBIT and the left side is CREDIT). On the other hand, liabilities, equities and revenues, when increase are CREDIT and when decrease are DEBIT (so they are opposite). eg. If you purchase a car for $10,000, your asset that is your car increases by $10,000 and another asset your cash decreases by $10,000. So car is Debit and cash is Credit, both by $10,000. Similarly you could buy an asset on a loan, so your liability increase which is a Credit and so does your asset which is a Debit. Remember whenever there is a (or more than one) Debit, there is a (or more than one) Credit and both (or all) must be of the same amount so that if Debit is PLUS and Credit MINUS the sum should be ZERO.\n\nFORWARD - well, every month end or year end, you total all your debits and credits in a particular account eg. Cash eg. in August you received $1,000 and at the start of August (or end of July) you had $200 (which means Debit $1,200) and in August you spent $700 (which means Credit $700) then you have a Debit balance of $500. As I said earlier the Journal has two sides for each account. At the end of the month or year every account is closed (as in our example 'cash account' was closed). This is done by balancing the account, eg. in the eg. above the Debit side is $1,200 and Credit is $700, so we will add $500 to the Credit side (this addition to Credit side is called a 'Debit balance' and if it was made to the Debit side it would have been called a 'Credit balance'. This Debit balance (as in our eg. $500) will be forwarded to the next month September. So when you will start the Cash account for September you will drag the 'Debit balance' (which was actually on the Credit side last month to the Debit side in September. It is basically a way to show that what you had at the end of last period you start with the same items (which is quite obvious, wonder why they chose such a tough way of doing it). It must be noted that only Balance sheet items (asset, liabilities and equities) are forwarded. Expenses and revenues are not forwarded they are closed (taken to the income statement).\nHope this helps, cheers.
173608
try here: http://www.moneysupermarket.com/currentaccounts/\n\ntick on the Student & Young Person Accounts and see what it comes up with
311915
If there are, I am not aware of them. You do have other options that you might consider, if there are in fact none. One is to invest in either a mutual fund or a closed end fund that invests in European stocks or Asian stocks. A couple of closed end funds that you might consider are TDF, investing in Chinese stocks and SWZ investing in Swiss stocks. \n\nIn my opinion, doing so has some advantages over investing in currencies. One is that they pay a dividend and secondly they are also tied to the prospects of the companies that they invest in. Whereas investing in just the currencies, the prospects are tied just to the currencies. \n\nThe two I mentioned are just as examples and not necessarily recommendations. Another example is GIM, a closed end fund that invests in foreign debt instruments. The advantage of that again is dividends plus avoiding the dollar.
35656
check this webisite for more understanding\nhttp://www.investopedia.com/articles/trading/04/031704.asp
380714
I am unable to help too much since I don't understand your question.\n\nTo convert from one currency into another try the following site:\n\nhttp://www.gocurrency.com/add-converter.htm\nhttp://www.forex.ch/converter.htm
65365
www.scottrade.com i think has an international site
364247
This might help you:\nhttp://oanda.com/convert/fxhistory
286308
The stock exchanges play a role, but they really do not have any other influence except that of facilitating the buying and selling of securities. I really don't understand what you mean when you say "consolidate activities."  But if you are referring to the consolidation of the banking sector, it has already begun. For example, JP Morgan & Chase,  JP MorganChase and Bank One.  You get the picture?  The role of the exchange in this situation was to facilitate the merging of shares between these individual banks into one share to be traded on the Stock Exchange.
399962
Call around to various banks and ask rather than just showing up. Call the one you use and have an account with first. I'm not sure what they will do now that Germany uses the Euro. When you call a bank (preferrably a big bank), ask for the International or foreign currency exchange dept. I hope you get a good exchange rate! Good Luck!
45385
The answer is exchange traded funds. Click the first link below to see these funds.\n\nFor trading strategies using various types of funds, click the second link.
231855
Chinese don't have a fully floating currency.  They "float" their RMB to a selective basket of goods/currencies.  This means the exchange rate only changes a minimal amount per day.
400373
Go here for up-to-date currency exchange rates:\n\nhttp://www.xe.com/ucc/\n\nThe conversion charts are bulky as you have to cross-referrence them.  On-line is based on specific dates and time due to constant fluxuations in the money markets.