Accounting of Commodity trading
This query is : Resolved
29 January 2011
Dear Sirs,
Daily we are trading steel trading NCDEX, for eg. steel rate is 28000 for 5% margin money we buying & selling for 29500.00. Brokerage & turnover charges are their. How we have to account these are all.
Any rules are their to account share / Commodity tradings.
A.S.Hiremath
Daily we are trading steel trading NCDEX, for eg. steel rate is 28000 for 5% margin money we buying & selling for 29500.00. Brokerage & turnover charges are their. How we have to account these are all.
Any rules are their to account share / Commodity tradings.
A.S.Hiremath
29 January 2011
It is derivative , there is no intial investment in this case, You have have accounts profit or loss arising on these transaction in your books of accounts.
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