Closing rate
In accounting, closing rate means the spot exchange rate at the balance sheet date, used to translate assets and liabilities and to remeasure monetary items.
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Authority
This definition follows ASC 830-30-45-3.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
Closing rate, in use
Quoted from the document that use the word — what it does to an interface, in the spec's own sentence.
The same pair on the same date has a different closing rate and average rate, and using the wrong one is a silent misstatement.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- current rate in UI copy
- today's rate
Nearby in the catalog
No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.
Terms this one depends on
Also in Multi-entity
Work with this concept
The calculators that compute it and the ledger payloads that carry it. A definition is where a reader starts; these are where they go next.
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.