Treatmnet of foriegn exchange differences

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CA Job
38 Points Joined August 2013

Dear Friends, 

I would like to know how the differences in foriegn currency transactions need to be accounted and disclosed in the following cases?

1. Sale in 2014 in usd(Invoice) @ ??

2. On balance sheet Date @ ??

3. In 2015 received (part payment) in USD-Then How to caliculate Exchange difference? and remaining amount?

Thanking you in advance

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On 18 May 2015 at 17:25 Report
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ok
151 Points Joined February 2011
On BS date - difference of rates on sale dt and bs dt shall be taken to calculate forex p/l on amount receivable/debtors On payment receipt dt- difference b/w bs dt rate and payment dt rate shall be taken to calculate forex p/l on payment amount.
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On 04 June 2015 at 23:15


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