During certain audits i observed that certain entities find difficulty in fixing an exchange rate for foreign transactions for accounting purpose and the method of changing the exchange rate and accounted for rate differences.
So can any body explain me how to fix a proper exchange rate and on what basis ?
Plz refer AS 11
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
