Foreign exchange outflow in director's report

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Querist : Anonymous

Querist : Anonymous (Querist)

20 September 2013 Dear Sirs,

Kindly explain me as how to arrive the amount of total foreign exchange outflow to be shown in Director's Report.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 September 2013 Just total the total earnings in foreign exchange and total outgo in foreign exchange...should not be a difficult task..

Querist : Anonymous

Querist : Anonymous (Querist)

25 September 2013 Sir,

I want to know that, whether the foreign outgo due (not yet paid) to be included in the total outflow amount.

For example :

An amount of Rs. 100 is payable to a foreign related party, but paid only Rs. 40.

Should we consider the total Rs. 100/- or only Rs. 40/- (actually paid)??

I know this is stupid question but please clarify.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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26 October 2013 sorry for replying late. but kindly follow the accrual principle here.

Querist : Anonymous

Querist : Anonymous (Querist)

04 November 2013 Thanks I got it..

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