CA. Rohit Vishambhari, Vns. (Chartered Accountant) (150 Points)
21 August 2012
CA. Subhash Dangi
(Chartered Accountant)
(1784 Points)
Replied 21 August 2012
If the Advance against supply or imports is material, then U need to restate balance of such foreign supplier as per AS-11 by debiting or crediting Exchange Gain or Loss.
Aarush
(Delhi)
(1566 Points)
Replied 21 August 2012
Dear Sir,
it should be re-instate, also you need to re-instate employee advance given to employees for foreign travelling.
if its not material or nominal change you can ignore it.
CAclubindia
