in case export
which date considered as sale date for accounting purpose?
which date exchange rate considered for conversion ?
rbi rate or borad rate considered in accounts
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Replies (3)
AS 11 does not prescribe which conversion rate should be used. It depends on companies' policy. It may be shipping bill rate or rbi rate or any other rate. Sale date should be date of invoice for accounting purpose.
for exchange loss or profit rate should be consider?
Check AS 11, u need to consider date of transaction
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