Foreign currency loss on forward contract

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jitendra jain (Querist)
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31 July 2013 we have exchange revaluation loss foreign currency , due to forward contract Rs. 20 Lacs , Pls let me know where it will show in BS ( other operational income or exceptional Loss/Gain )

Kumar

Kumar (Expert)
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31 July 2013 Depends whether the underlying asset is on balance sheet or off balance sheet
If on balance sheet take 20 lacs to P&L, otherwise hedge reserve

jitendra jain

jitendra jain (Querist)
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01 August 2013 what is means on balance sheet or off balance sheet ..

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jitendra jain

jitendra jain (Querist)
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01 August 2013 my question , I have loss due to forward contract ( due to buying and selling of foreign currency $ ) where will it show in P&L ,

Kumar

Kumar (Expert)
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01 August 2013 Other expenses since it is a loss

exceptional depends on the materiality of the amount for the Company