What is the average rate and closing rate as per AS.11.pl.explain in the briefly manner.if possible with example.
What is the average rate and closing rate as per AS.11.pl.explain in the briefly manner.if possible with example.
I hope, u r talking abut Exchange rate..
Let me tel u through an exmpl.
Suppose Accounting Year 2010-11, The Dollar exchange rate on 1-4-10 was Rs. 40 and on 31-3-11 is Rs. 45.
Average rate= (Exchange rate at the beginning of the financial year + Exchange rate at the end of the financial year) / 2
= (40+45)/2 = Rs.42.50
Cloasing rate= Exchange rate at the end of the financial year
=Rs. 45
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