Foreign exchange entry
This query is : Resolved
23 April 2012
Dear Expert,
I am working in Export company I want to know on 31/03/2012 whether any entry we have to pass for exchange rate difference entry or not if yes then why and how we will the entry??
Thanks in advance......
I am working in Export company I want to know on 31/03/2012 whether any entry we have to pass for exchange rate difference entry or not if yes then why and how we will the entry??
Thanks in advance......
23 April 2012
Yes, if you do have any foreign currency debotrs, loans, bank accounts outstanding as on 31/03/2012, you need to restate them. For detailed of this please refer AS-11,
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