https://www.taxtmi.com/forum/issue?id=115940 Each EEFC transaction must be recorded in the reporting currency using the exchange rate on the date of that transaction; differing rates for receipts and payments generate exchange differences. Resulting foreign exchange fluctuation is reported in the financial statements, revenue from sales is recognised when risks and rewards transfer and consideration is reasonably assured, and the EEFC balance should be disclosed in the notes and presented within cash and bank balances. en-us Mon, 27 Jan 2020 16:46:19 +0530 Thu, 23 Jan 2025 15:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115940 Each EEFC transaction must be recorded in the reporting currency using the exchange rate on the date of that transaction; differing rates for receipts and payments generate exchange differences. Resulting foreign exchange fluctuation is reported in the financial statements, revenue from sales is recognised when risks and rewards transfer and consideration is reasonably assured, and the EEFC balance should be disclosed in the notes and presented within cash and bank balances. Discussion-Forum Companies Law Mon, 27 Jan 2020 16:46:19 +0530 https://www.taxtmi.com/forum/issue?id=115940