Inter company branch payment

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Executive
51 Points Joined January 2012

Dear All. 

Am working as Accountant in Dubai, One of my sister concern transfer the money for us to settling the dues,. They are in KSA. 

 

The query is they have transferrd the funds is Riyal, but my currency is AED. If suppose am accounting in $ . The value is not matching .

 

Kindly support how to solve the issue. 

 

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On 29 November 2018 at 13:05 Report
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Team Lead
7558 Points Joined November 2011
the difference arising on account of exchange fluctuations shud be transferred to P&L as exchange/gain arising on such transaction
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On 29 November 2018 at 15:30
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teaching
2046 Points Joined February 2009
AS 11 is applicable.
as on the date of receipt in foreign currency, you need to convert into local currency, then take the difference amount as either foreign currency fluctuation gain or loss (based on profit or loss)
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On 29 November 2018 at 15:54


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