Foreign exchange loss or profit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 March 2012
my client has business of timber. he import timber and there is foreign exchnage
loss what will be the accounting treatment or if there were foreign exchange gain then what will be the accounting treatment and how it will be shown in revised schedule vi
loss what will be the accounting treatment or if there were foreign exchange gain then what will be the accounting treatment and how it will be shown in revised schedule vi
28 March 2012
As per AS 11, any gain or loss arising due to fluctuation in exchange rates has to be credited/charged to P&L Account.
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