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Former Member
Apr 24, 2014 at 04:22 AM

FI Forex gain loss & Exchange Rate difference on Foreign Currency & Chart of Accounts

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Dear All,

I have queries on following :

1) what is difference b/w Forex gain loss account & Exchange Rate difference on Foreign Currency account .

2) Under which Heads in Balance sheet they should come as per Indian Accounting Standards.

3) Are these accounts common for Vendor & customers or different.

4) they record FI data at Company code level or at sub-ledger level first (Vendor /Customer) .

4) Is it advised to use same Chart of Accounts to two companies in same country by using different GL's with different FSV?

Regards

MJ