what type of accounts...

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what type of accounts are PO gain /loss account

Normally gain means i think revenue and loss means expense

Can some one clarify please

Did you mean xchange rate gain loss \

if yes then Most companies use the same account for both gain and loss.
in that case it does not matter if u take this a/c as revenue or expense

but if you decides to use two differnt accounts then both the accounts should of same type - i.e either both gain & loss as revenue / or expense.

One more question if it’s true that companies use the same account for both gain and loss then why we have two different accounts

One more question if it’s true that companies use the same account for both gain and loss then why we have two different accounts
 

This is to provide the flexibility
If one organization wants to track the exchgane rate gain/loss in differnt accounts then it can do so.

I 've seen most of the large MNCs like GE HC - Cummins using a single account for both the purpose though few sites use different account (esp in EU countries like France, Spain & Portual )

Not sure if thats a statutory requirement

 

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