Accounting Standard-11
This query is : Resolved
23 April 2011
Dear Experts,
A Company has given an advance of 100 Euros to a Foreign Supplier on 16th Feb, 2011. On 31st March should I apply closing rate and recognise the Forex gain/loss?
Thanking you in advance.
Prithvi
A Company has given an advance of 100 Euros to a Foreign Supplier on 16th Feb, 2011. On 31st March should I apply closing rate and recognise the Forex gain/loss?
Thanking you in advance.
Prithvi
23 April 2011
yes, adjestment should be required.
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