reflected in the accounting policy

 

But this method should be reflected in the accounting policy. It would be bad if we did not note that because in Article 8 271 and Fri 10 of Article 272 of the Code it is said that, as most of us constantly say, exchange rate differences need to be considered at the end of the reporting period, without the explanation of the concept of the reporting period, and this as if it could be a month or a quarter.

Apart from the fact,Small Business Accountants in Walsall the exchange rate difference should be taken into account and on the date of payment of products. Everyone knows that it is necessary to write off the cost of products brought from other countries for expenses, as traditionally, as they are implemented.

Example

GUDimpex LLC has entered into a foreign trade agreement. Needless to say, under this agreement the organization buys a batch of products worth EUR 100,000 from a Spanish supplier. Please note that under the terms of the contract, the right of ownership of the products is transferred to the buyer of the customs design. In August, GUDimpex LLC is obliged to pay 40% of the cost of the imported product as an advance. The rest of the cost of products brought from other countries will be transferred to the LLC within 7 days of the customs design.

On August 16 of this year, the accountant reflects the advance transferred to the supplier of EUR 40,000 (EUR 100,000 x 40%), paid to the supplier: The course of bank Rf on this date was 43.8509 RUB/EUR.

DT 60 sub-calculation "Advances calculated" Ct 52 - 1754036 RUB (40,000 EUR x 43.8509 RUB/EUR)

In September of this year, the accountant takes into account the received product taking into account the subsequent: