Export sales booking (cif)
This query is : Resolved
16 June 2014
In Case of export sales Realization for the Purpose of booking of Export sales weather to consider FOB or CIF value?
For Example:-
CIF value 500 US$
Freight/ Insurance 50 US$
FOB Value 450 US$
Weather to book 500 US$ or 450$ as Export Sales Realization as per Indian Accounting Standard??
Kindly also Suggest its Respective Accounting Standard.
For Example:-
CIF value 500 US$
Freight/ Insurance 50 US$
FOB Value 450 US$
Weather to book 500 US$ or 450$ as Export Sales Realization as per Indian Accounting Standard??
Kindly also Suggest its Respective Accounting Standard.
17 June 2014
you can book on CIF value, but in notes of accounts you need to give FOB value of same.
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