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Convert indian p&l, bs into usd

This query is : Resolved 
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(Querist)
25 January 2019 Hi,

Please help me out on following queries,

1. We prepare YTD P&L which includes all MTD P&L. We convert the same in USD with respective months USD rate. Is it the right way of doing the same ? please advice...

2. We prepare Balance sheet also in INR as well as in USD, however the profit/loss does not match with USD balance sheet because we convert the balance sheet in USD with current month rate. Please suggest the correct approach.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 January 2019 It's not the right way of doing the same. Use same rate for p and l also.
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