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Loss from f & o contracts

This query is : Resolved 
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(Querist)
05 July 2012 The Company is involved in Textile business. it has an activity of booking F&O Contracts.. Should the loss from the same be booked as expense in P&L or it should be carried forward to set off?
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
06 July 2012 Any realised loss or MTM Loss has to be accounted in the books and is not allowed to be carried forward as an off balance sheet items per notification issues by ICAI.
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Prasanna

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Prasanna (Querist)
06 July 2012 Tanks for your Solution Sir
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