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Foreign exchange difference treatment

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 July 2012 Bill of entry Rate R50/$ Stock valuation at Rs-50
On date of Payment Rate Rs55/$

Whether difference of Rs-5/(55-50) consider for stock valuation? (company not enter any hedging contract)
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CA. Sunil Kumar

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CA. Sunil Kumar (Expert)
29 July 2012 its Exchange Fluctuation Loss should be charge off to Profit & loss account.

Entry

Party A/c Dr. 50
Exchange Fluctuation Loss Dr. 5
To Bank A/c 55

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