Future & Option Entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 September 2010 Dear Experts,
Please guide me on the following query :
1)What entry will be passed for the transaction entered for purhase and sale of future & option Trasaction entered by company.
2) We have to book only profit or loss or we have to book full sale and purhcase value of future and option transaction in the books of the company.
3) In Future & Option we does not received any kind of delivery of scripts we entered contract and accordingly we book maring.
Please guide me on the transaction.
My boss told me that each and every transaction with script should be entered.
Please clerify me accordingly.
Thanking you,
With regards