Exchange loss or gain
This query is : Resolved
01 June 2008
What is best accounting practice on treatment of exchange loss or gain which is arises on import or export transaction.
Can we adjust the loss or gain through purchase or sale account?
Can we adjust the loss or gain through purchase or sale account?
02 June 2008
exchange loss/gain arising out of sale or purchase of products, have to be debit/credit in P&L as "exchange gain/loss" a/c. shud not be adjusted with purc/sale a/cs.
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