Cash Management Query- Exchange Gain and Loss acc - HandsonERP

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TOPIC: Cash Management Query- Exchange Gain and Loss acc

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slr (User)

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Cash Management Query- Exchange Gain and Loss acc 12 Years, 3 Months ago

HasanBhai,

Please keep in mind FASB w.r.t accounting for Foreign Currency transactions.

Could you please give an example of a business case where there is a need for accounting for Exchange gain and loss only at the time of Clearing and not when payment is issued?

If both the Boxes are not checked in AP Accounting Options will it not be a violation of the International Accounting Standards?
Appreciate your response.
Sunny

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