Forward contract.

This query is : Resolved

punit (Querist)
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12 May 2016 Hello Friends,

I have query of Forward Contract transaction on Import Purchase Transaction. We have booked forward contract and passed entry in books as per AS 11 but we have doubts on DISCLOSURE of FOREIGN CURRENCY RECEIABLE and AMOUNT PAYABLE TO BANK in Balance sheet.

Amol S Joglekar

Amol S Joglekar (Expert)
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12 May 2016 what is your difficulty in the same? See, you have already booked the forward contract in your books of accounts. If the expiry of the same is before year end date, the entries will be made at actuals.

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