the firm in the question is 100% EOU. as on 31/03/12 he has got debtors(foreign buyers) outstanding on his balance sheet. the firm has recorded exports @ 49 USD. The has entered into forward contract of USD @51 in April. But on 31/03/12 exchange rate is 51.8521. so, now the question arises what should be the treatment of foreign exchange difference under AS 11?
) now 
