banner_ad

AS- 11

This query is : Resolved 
Profile Image

Profile Image

(Querist)
15 February 2011 I have a debtors of Rs. 100 and for hedging this i took a forward contract of Rs. 150 due to transaction in normal course f business.

So wat will be treatment as per AS-11 on year end in books of A/c??
Profile Image

sandesh mundra

Profile Image

sandesh mundra (Expert)
16 February 2011 As per AS-11, Forward Contracts need to be accounted for as below:-

Spot rate - Rs.130 + Premium Rs.20 = Rs.150

Premium has to be amortised over the period of the contract

At year end you may compare the closing exchange rate which is lets say 140.

You then need to book a loss of Rs.40 on current liability and gain of Rs.30 on Forward contract
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