AS-11

Janani Subramanian (Employed) (151 Points)

08 June 2011  

If  i receive an advance for material to be supplied at a future date wat is the applicability of AS-11?

Eg. I receive 1000$ in the month of June 2011 which is equivalent to 45000 INR[ 1$= 45 INR] but i supply the goods i.e sales invoice is raised only on July 2010 on which day 1$=48 INR hw should i treat the difference of 3$ ??