A small favour regarding As-11, the cash generated through sales has been deposited into a foreign a/c where the cash was left in the a/c for a period of one financial year, the opening balance at the start of the year has been increased due to the fluctuation gain during the course of time, can this be included in the sales a/c or shown separately as fluctuation gain in the p&L a/c
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query regarding AS-11
Replies (3)
It should be shown seperately in P & L under Forex Fluctuation because sales are to be booked on the date of sales at the rate prevailing on the date of sale.
So if any excess/defecit is to be adjusted through Forex Fluctuation
Although the Source is Sale, the nature of the Cash is Different when it is deposited. Hence you have to recognise it as an indirect Income in P & L
agreed
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