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Exchange variaion

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 February 2014 Dear all,
I have two condition, please tell me in which situation there is exchange variation.

a) If i make advance payment for purchase on 14/2/2014 Rs. 10000 for assume $25 where 1$=40 and purchase is on 19/02/2014 when 1$=42. Then what will be the treatment for difference amount of Rs. 50.

b) If I make purchase on 19/02/2014 for assume $25 where 1$=42 but payment is made on 25/02/2014 for $25 where 1$=45. Then what will be the treatment for difference amount of RS. 75

Thanks all
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
18 February 2014 In both the cases, the difference will be charged to Profit & Loss account as per AS 11.
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Querist : Anonymous

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Querist : Anonymous (Querist)
18 February 2014 IT will be charged im which head?
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