Foreign exchange difference treatment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2012
Bill of entry Rate R50/$ Stock valuation at Rs-50
On date of Payment Rate Rs55/$
Whether difference of Rs-5/(55-50) consider for stock valuation? (company not enter any hedging contract)
On date of Payment Rate Rs55/$
Whether difference of Rs-5/(55-50) consider for stock valuation? (company not enter any hedging contract)
CA. Sunil Kumar
(Expert)
29 July 2012
its Exchange Fluctuation Loss should be charge off to Profit & loss account.
Entry
Party A/c Dr. 50
Exchange Fluctuation Loss Dr. 5
To Bank A/c 55
Entry
Party A/c Dr. 50
Exchange Fluctuation Loss Dr. 5
To Bank A/c 55
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