banner_ad

Foreign exchange gain/loss

This query is : Resolved 
Profile Image

Profile Image

(Querist)
07 April 2011 if i import goods by making advance payment then whether i should account for foreign exchange gain/loss or not?
Profile Image

CA Ganpat Singh Rajpurohit

Profile Image

CA Ganpat Singh Rajpurohit (Expert)
07 April 2011 dear author

you have to calculate exchange gain/loss at the time of bill booked(goods received) and the same gain/loss transfered to P&L a/c.
if goods not received till end of b/s date, you have to revaluate advance payment as on that date as per exchange rate of that date and the same gain/loss transfer to p/l a/c.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details