Account
This query is : Resolved
14 February 2014
Whether foreign gain/loss omitted in previous year recorded in current financial year as prior period item as per Accounting Standard 5 or not. If not which treatment should be given for gain/loss arised on export of goods.
14 February 2014
yes it will be prior period item as per AS 5 and must be sep shown in notes to accounts and p & l
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