Forward booking exchange gain loss
This query is : Resolved
06 August 2012
Dear Sir,
My Client aving a Export Business and on the basis of the same he book forwad contract.
Suppose on 31st march 2012 having a 300000 $ forward contract ( Sale ) than kindly suggest me that forward contract gain /loss book on the base rate on 31st march 2012 or not
if book than What entry to be passed Gain than foreign Exchange Gain A/c Cr than What is to be debit
My Client aving a Export Business and on the basis of the same he book forwad contract.
Suppose on 31st march 2012 having a 300000 $ forward contract ( Sale ) than kindly suggest me that forward contract gain /loss book on the base rate on 31st march 2012 or not
if book than What entry to be passed Gain than foreign Exchange Gain A/c Cr than What is to be debit
06 August 2012
Gains not to be booked LOSSES, if any to be booked. Refer the accounting standard.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Sale of goods to the purchasing party
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- OLD REGIM AND NEW REGIM
- Sec 44ada applicable only or both
- Compulsory aqisation of Agriculture & Non Agriculture land are taxable or not ?
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- I have sent ITR to CPC and delivered in due date , but portal itr status not updated
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
