Urgent: put option query !

Hi Rohit,

As regards your query, please note that the Institute of Chartered Accountants of India has come out with a Guidance Note on accounting for equity index and equity stock futures and options.  The Guidance note is attached herewith.  You can refer the same since it contains the proper explanation, the required accounting entries along with the journal entries thereof both in the books of buyer and seller in all possible outcomes of the derivative contract.

Though would request you to check on the status of the Guidance Note. vis-a-vis the implementation of AS 30, Financial Instruments: Recognition and Measurement  

Hope have been able to help you on the same.

Thanks,

Murtuza Munim

98336 55123