dear all,
what will be entry of foreign currency change.
8 Replies
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 01 September 2011
In case of exchange loss:
Exchange fluctuation A/c Dr.
To Party A/c
In case of exchange gain:
Party a/c Dr.
To Exchange Fluctuation A/c
Plz correct me if m wrng
Sachin Rajput
(account exe)
(593 Points)
Replied 01 September 2011
sir we have paid to this party by ch and dollar taken than what will be entry...........
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 01 September 2011
You can directly debit the amount to the head of expenditure for vch you hav purchased dollars,,e.g. travelling(foreign) a/c
Sachin Rajput
(account exe)
(593 Points)
Replied 01 September 2011
one more thing sir.......i m PG .can i take admission directily in ipcc?
Sumit Grover
(Chartered Accountant )
(3652 Points)
Replied 01 September 2011
alternatively, u can open a new a/c "Foreign currency in hand" nd debit the amount of dollars recd in dat a/c and then gradually credit the same as and when exp is incurred.
plz correct me if m wrng
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 01 September 2011
| Originally posted by : sachin | ||
 |
one more thing sir.......i m PG .can i take admission directily in ipcc? |
 |
DIRECT ADMISSION DECISION IS YET TO BE APPROVED BY GOVERNMENT
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