banner_ad

Accounting standard - 11 "accounting for foreign exchange"

This query is : Resolved 
Profile Image

Profile Image

(Querist)
31 January 2012
please get attention on this query to everyone
if there is company export the goods and book it as sales at that time US $ 52 Rs. and while receiving payment at that
time US $ 55 Rs. whatever the foreign exchange gain i.e, Rs. 3 is realised whether it would be appropiate
to credit it in sales account or if not why ? please consider this sales has been made during the year not at the end of the year.
Answer the question as per applicabilty of AS -11
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
03 February 2012 AS 11 provides that foreign exchange gain/loss should be charged to Profit & Loss as Foreign exchange fluctuation and shown separately.

Therefore, such gain cannot be treated as sales.

It has to be shown separately as Foreign Exchange Gain.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details