As-11 valuation

jinal mehta (Asso accounts manager) (212 Points)

15 April 2016  
Dear Experts, If advance received in USD and now service is not going to be rendered, whether the same amount needs to be revalued following the AS-11?? if USD, GBP lying on hand as on 31st March,2016 whether the same should be revalued at spot rate of 31st March or not. Please suggest