Foreign exchange rate fluctuation treatment and provisions
This query is : Resolved
06 August 2014
Dear Sir,
i want to know, treatment for foreign exchange fluctuation rate. One of the client has a bill say in $ on 20th march 2014 but it is not realised on or before 2014. how can we treat this? if we made any provision in final statement for foreign exchange rate fluctuation? how this provision is made? what AS 11 says?? please help me
i want to know, treatment for foreign exchange fluctuation rate. One of the client has a bill say in $ on 20th march 2014 but it is not realised on or before 2014. how can we treat this? if we made any provision in final statement for foreign exchange rate fluctuation? how this provision is made? what AS 11 says?? please help me
Rupesh Jain
(Expert)
06 August 2014
you are making sale then you can take the rate at the time transaction rate of USD $ and make prov. of loss of fluctuation as on B/S date rate.
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