05 June 2009
Just follow the steps as given below:-
1. Take a print out of opening debtors/creditors ledger(previos years closing)
2. take a transaction list of current year with all debtors and creditors
3. now check with cash and bank account to see the realisation and repayements
4.now check the each receipt or payement from or to a particular party with their opening balances and co-relate the amount with balance or transaction then u will be in a position to see the realisation is bill wise or on account.
5. just scutnise the account with critical view.
Foreign exchange fluctuation
1.just take a print of exchange rates corresponding to transaction date.
2.go through with each transaction
3. take a list of transaction not setteled on reporting date.
4. calculate exchange fluctuation from the above and
5.see that all exchange flucatuation is transferred to p&L account.
but Tell me is there any documentation availabe from co to check FE Fluctuations???? means payt schedule shuld be taken out from co or wht documentation shld i take from Co.
CAclubindia
