Applicability of AS11 - Recent Notification

This query is : Resolved

Mehul (Querist)
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04 April 2009 We useally take plain vanila forward against reveivables and we do Mark to market on the outstanding forward contracts at the year end.

Do we still need to MTM or based on this notification we escaped from MTM provisioning?

Please advise.
Regards,
Mehul.

Ashish Aggarwal

Ashish Aggarwal (Expert)
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04 April 2009 as per notification only long term assets and liabities will be effected by this notification.
Forward contract are derivatives so they are not covered under this notification.
There you need to MTM your forward contract

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