foreign exchange
This query is : Resolved
27 April 2012
WHAT IS THE ACCOUNTING TREATMENT OF FOREIGN EXCHANGE FLUCTUATION AS PER AS-11 IN CASE OF PART PAYMENT MADE IN ADVANCE TO SUPPLIER IN CASE OF IMPORT AND WE RECEIVE PART PAYMENT IN ADVANCE FOR EXPORT.
11 May 2012
Any gain or loss arising on account of foreign exchange fluctuation has to be credited or debited to the P&L Account.
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