As 11
This query is : Resolved
13 May 2013
treatment of bills recivables /payables of a foreign branch on closing date.
which rate of translation to apply?
which rate of translation to apply?
13 May 2013
Firstly check whether it is Integral or Non-Integral Foreign operations, if you are asking practically. If you query is for study questions, then kindly refer ques only.
27 June 2013
If the Balance Sheet is finalised at a later date then the closing date and the fluctuation is on higher side then the higher rate is to be taken or otherwise the rates as prevailing on the date of closing of your account. The auditor will give a note for rates taken.
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