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Foreign exchange difference treatment (Accounts)

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This query is : Resolved

Author : Anonymous

( Author )
28 July 2012

 Bill of entry Rate R50/$ Stock valuation at Rs-50
On date of Payment Rate Rs55/$

Whether difference of Rs-5/(55-50) consider for stock valuation? (company not enter any hedging contract)


CA. Sunil Kumar

( Expert )
29 July 2012

 its Exchange Fluctuation Loss should be charge off to Profit & loss account.

Entry

Party A/c Dr. 50
Exchange Fluctuation Loss Dr. 5
To Bank A/c 55



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