Accounting entry
This query is : Resolved
17 June 2014
what is accounting entry for
foreign exchange loss realised &
foreign exchange loss unrealised?
foreign exchange loss realised &
foreign exchange loss unrealised?
17 June 2014
Foreign exchange loss realized Dr
To relavant head
Foreign exchange loss unrealized Dr
To relavant head
To relavant head
Foreign exchange loss unrealized Dr
To relavant head
18 June 2014
correct me if i m wrong
So it means that both realised & unrealised f ex P/l will go to P/l account ?
And no reversal of entries is carried out in next year for unrealised part
So it means that both realised & unrealised f ex P/l will go to P/l account ?
And no reversal of entries is carried out in next year for unrealised part
18 June 2014
yes, it will hit P&L expect FE generated on capital items, in case of Capital items which you going to capitalize or capitalized, realized fe will be capitalized,
you may or may not reverse in next year unrealized part, its upon policy u adopted in ur concern. in case u reverse the impact of unrealized part, ur Liability/asset will become on original FE rate, and if u dont reverse, it will be revalueted.
you may or may not reverse in next year unrealized part, its upon policy u adopted in ur concern. in case u reverse the impact of unrealized part, ur Liability/asset will become on original FE rate, and if u dont reverse, it will be revalueted.
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