Advance payment from foreign buyer against exports.
Akshay (accountant) (49 Points)
19 July 2016Akshay (accountant) (49 Points)
19 July 2016
Jishnu Surendran
(Finance Manager)
(312 Points)
Replied 19 July 2016
You have to adjust for exchange fluctuation. It will always be a monetary liability no matter how long you hold it. This is due to the reason that the essence of advance is against trade assets which are monetary assets.
Akshay
(accountant)
(49 Points)
Replied 12 August 2016
IS there any rule and regulation from RBI, against this situation (or these case) ?
if i adjust this amount with exchange fluctuation.
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