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export

Final 219 views 3 replies

Rohit Data

11 Points Posted on 24 May 2018

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

Replies (3)

Anirudh

Student

299 Points Posted on 24 May 2018

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.

Rohit Data

11 Points Posted on 24 May 2018

for exchange loss or profit rate should be consider?

CA S Praveen Kumar Reddy

Chartered Accountant

2195 Points Posted on 24 May 2018

Check AS 11, u need to consider date of transaction

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