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effects of foregin exchange fluctuation

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(Querist)
19 April 2010 sir

Accounting treatment of the effects of foreign exchange fluctuation ie., loss or gain on the purchase of raw materials from foreign country.
ie profit or loss shall be transferred to Profit & Loss account or transferred to a separate account and then written off.

thanks
Nagarajan
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
19 April 2010 transfer to profit & loss a/c directly
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nagarajan

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nagarajan (Querist)
20 April 2010 thanks
Nagarajan
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
20 April 2010 your welcome
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