How to do accounting of commodity future transaction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2011 Dear sir,

Please suggest how to do accounting of commodity future and mcx future transactions. like jeera, gold, silver etc.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 May 2011 see this link
https://www.caclubindia.com/share_files/guidance-note-on-accounting-for-futures-options-28916.asp

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2011 DEAR SIR,

THIS GUIDANCE NOTE SHOWS ACCOUNTING OF EQUITY INDEX FUTURE AND OPTIONS CONTRACT.

I WANT TO KNOW ABOUT ACCOUNTING OF COMMODITY FUTURE CONTRACTS WHICH IS TRADED ON NCEDX OR MCX.

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2011 NCDEX OR MCX

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 May 2011 Same as that of shares as accounting is on mark to market basis only.

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