Accounting of f & o transaction
Ronak (ca final) (65 Points)
21 June 2017Ronak (ca final) (65 Points)
21 June 2017
upasana gupta
(Finance Professional)
(3931 Points)
Replied 21 June 2017
https://resource.cdn.icai.org/38253asb27888dc.pdf
upasana gupta
(Finance Professional)
(3931 Points)
Replied 21 June 2017
Yes have to book the accounting enteries by mark to market basis.you will credit/debit the amount in bank account and the corresponding amount in equity derivative account.You will book profit or loss in P/L account at the time of squaring up as per ind as 32,107 and 109 .you can refer the guaidance note issued by ICAI on derivatives
https://resource.cdn.icai.org/38253asb27888dc.pdf