Forex gain/loss

Hiren Parmar (ARTICLE) (77 Points)

17 November 2016  
I am auditing a company which makes advance payment on import and bill is booked as per date of bill of entry but goods are shipped from that country 7 days(approx) before date of bill of entry then forex gain/loss of those 7 days shall be accounted for or not? also to know when will risk & reward transfer?