[THIS VERSION:] November 30, 2015

Recording guidelines for gold transactions

Gold is initially recorded at cost and subsequently revalued at the market value
based on international market’s average rates per ounce of gold every month
end. Gold is recorded in the Khmer Riel (“Riel”), which is the Central Bank’s
functional and presentation currency. Both revaluations for price changes
(changes in market price) and exchange rate changes (foreign exchange
translation) are recorded to an equity account. The gold bullion is comprised of
physical gold holding and gold receivables (gold certificates), and separated
accounts are used to record two forms of gold.

1. Gold Acquisition

- Physical gold
T. Code Indicator General Ledger Amount
APG Dr. Physical gold holding In KHR
APG Cr. Nostro account In US Dollar

- Gold certificates
T. Code Indicator General Ledger Amount
AGC Dr. Gold certificates In KHR
AGC Cr. Nostro account In US Dollar

The exchange rate to be used shall be at the recording date.

2. Gold Deposits

T. Code Indicator General Ledger Amount

GTD Dr. Gold term deposit In KHR
GTD Cr. Gold certificates In KHR

The gold price and exchange rate to be used in determining the amount
are the latest market price and exchange rate used for gold revaluation.
For example, the latest revaluation rates are 1 gold ounce = 1,100USD and
1USD = 4,000KHR for gold price and exchange rate respectively; so the
amount would be 4,400,000,000KHR when making a term deposit of
1,000 gold ounce (1,000 gold ounce x 1,100USD x 4,000KHR).

3. Monthly accrued interest income from gold deposits

T. Code Indicator General Ledger Amount

AII Dr. Accrued interest income In KHR
AII Cr. Interest income In USD

The exchange rate to be used shall be at the recording date.

4. Liquidation of gold deposits

- Principle liquidation

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T. Code Indicator General Ledger Amount

LGD Dr. Gold certificates In KHR
LGD Cr. Gold term deposit In KHR

The gold price and exchange rate to be used in determining the amount
are the latest market price and exchange rate used for gold revaluation.

- Additional accrued interest income

T. Code Indicator General Ledger Amount
AII Dr. Accrued interest income In KHR
AII Cr. Interest income In USD

The exchange rate to be used shall be at the recording date.

- Accrued interest income liquidation

T. Code Indicator General Ledger Amount
LII Dr. Nostro account In USD
LII Cr. Accrued interest income In KHR

The amount for accrued interest income to be liquidated is the

accumulated amount in KHR, so it is necessary to manually input in the
box (field) of Local Amount to that exact accumulated amount.

5. Exercise of gold certificates

- Principle exercise
T. Code Indicator General Ledger Amount
EGC Dr. Physical gold holding In KHR
EGC Cr. Gold certificates In KHR

The gold price and exchange rate to be used in determining the amount are the
latest market price and exchange rate used for gold revaluation.

- Exercise cost
T. Code Indicator General Ledger Amount
EFC Dr. Fee charge In USD
EFC Cr. Nostro account In USD

6. Monthly revaluation for gold

Revaluation is done for changes in gold market price and changes in exchange
rate simultaneously and aggregately in order to record total unrealized
revaluation amount into the same equity account.

+ In case of unrealized revaluation gain

- Physical gold holding

T. Code Indicator General Ledger Amount
RGP Dr. Physical gold holding In KHR
RGP Cr. Unrealized revaluation G/L on physical gold In KHR
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- - Gold certificates
T. Code Indicator General Ledger Amount
RGC Dr. Gold certificates In KHR
RGC Cr. Unrealized revaluation G/L on gold certificates In KHR

- Gold term deposit

T. Code Indicator General Ledger Amount
RGD Dr. Gold term deposit In KHR
RGD Cr. Unrealized revaluation G/L on gold deposit In KHR

+ In case of unrealized revaluation loss

- Physical gold holding

T. Code Indicator General Ledger Amount
RLP Dr. Unrealized revaluation G/L on physical gold In KHR
RLP Cr. Physical gold holding In KHR

- Gold certificates
T. Code Indicator General Ledger Amount
RLC Dr. Unrealized revaluation G/L on gold certificates In KHR
RLC Cr. Gold certificates In KHR

- Gold term deposit

T. Code Indicator General Ledger Amount
RLD Dr. Unrealized revaluation G/L on gold deposit In KHR
RLD Cr. Gold term deposit In KHR

7. Sales of gold

Before the recording of a gold sale, gold revaluation has to be done (refer to 6.
Monthly revaluation for gold) by using gold price and exchange rate at the sale
date. The following recording entries shall to be posted once the revaluation is
done.
- Physical gold holding
T. Code Indicator General Ledger Amount
SPG Dr. Nostro account In USD
SPG Cr. Physical gold holding In KHR

- Gold certificates
T. Code Indicator General Ledger Amount
SGC Dr. Nostro account In USD
SGC Cr. Gold certificates In KHR

- To recognize realize gain or loss on the sale (to be discussed)

FIFO method is used in order to determine the cost of gold sold. This
cost is compared to current value of gold in KHR at the date of sale.

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Transaction Code Description

APG Acquisition of physical gold
AGC Acquisition of gold certificates
GTD Make a gold term deposit
AII Accrued interest income from gold deposit
LGD Liquidation of gold deposit principle
LII Liquidation of accrued interest income from gold deposit
EGC Exercise of gold certificates into physical gold
EFC Fee charge on exercising gold certificates into physical gold
RGP Unrealized revaluation gain on physical gold holding
RGC Unrealized revaluation gain on gold certificates
RGD Unrealized revaluation gain on gold term deposits
RLP Unrealized revaluation loss on physical gold holding
RLC Unrealized revaluation loss on gold certificates
RLD Unrealized revaluation loss on gold term deposits
SPG Sales of physical gold
SGC Sales of gold certificates

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GL Name GL Number

Physical gold holding

Gold certificates 221202001
Gold term deposit 221212001
Accrued interest income
Interest income 721202001
Fee charge 721202001
Unrealized revaluation G/L on physical gold 526202001
Unrealized revaluation G/L on gold certificates 526202001
Unrealized revaluation G/L on gold deposit 526202001
Gain/Loss on sale of physical gold
Gain/Loss on sale of gold certificate

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