27 March 2015
director is being reimbursed for expenses incurred abroad but as on reimbursement date so what to do for the difference ( expense date conversion rate and reimbursement date conversion rate) do we need to pass an entry for the difference?
30 March 2015
the transaction were already incurred in october and reimbursement to the director was done now in march. These are out of india expenses. indian expenses amount will remain same but foreign expenses conversion rate will differ
30 March 2015
You reimburse the actual expenses incurred by the director on transaction date (conversion date). So no difference will arise. Don't adopt reimbursement date exchange rate.
CAclubindia
