IF TRANSACTION DATE OF EXPORT ( INVOCIE DATE ) IS 20.12.2006 AND THE RATE OF CONVERSION OF USD IS 44.55 AND THE EXPORT REALISATION IS DONE ON 25.01.2007 @ 44.25 ? NOW QUESTION ARISE, IS THE PARTY LEDGER IS TO DEBITED BY TRANSACTION DATE AMOUNT OR THE REALISATION DATE AMOUNT.
1. IN FIRST CASE : THERE WILL BE A DIFFERNEC RESULTIN IN PROFIT OF .30 PAISE , IS ITS TREATMENT WILL BE IN P&L?
2. IN CASE SECOND : THERE WILL BE A TOTAL A/C. SETTLEMENT.
WHAT SHALL BE MY APPROACH?
CAclubindia
