Foreign Exchange Fluctuation
This query is : Resolved
14 June 2009
Could anyone clarify me the nature of loss on account of Foregn Exchange Fluctuation? Is it operational exp or financial exp? Does the nature of the exp change, if the loss is on account of booking of forward contract for sale of services overseas?
14 June 2009
In my opinion, it is shown a operational expense.
17 June 2009
Loss on account of foreign exchange fluctuation can arise:
a. on cancellation of forward cover / option contracts.
b. on conversion of financial statements for preparing consolidated financial statements.
c. Difference between foreign exchange rate prevailing on transaction date and payment date.
Nature of loss and situation are required to be correlated to decide nature of expense of foreign exchange fluctuation.
a. on cancellation of forward cover / option contracts.
b. on conversion of financial statements for preparing consolidated financial statements.
c. Difference between foreign exchange rate prevailing on transaction date and payment date.
Nature of loss and situation are required to be correlated to decide nature of expense of foreign exchange fluctuation.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
