03-08-2007, 03:32 PM
I have no disagreement that revenue is cash or cash equivalent, received or receivable...My point was that u will be booking the complete revenue when the cash is received and not when the transaction takes place...and im not convinced that, the cost of goods sold is the cost related to the exchange gain revenue...
Anyhow, what i feel about the whole situation is that ICAP or SECP should not relax the requirements of standards, because it will hamper the consistency and uniformity objectives of IFAC...
The thing in my opinion that can be done is that, the industrialist, exporters and other loss sufferers, should try to negotiate with the CBR on this matter...
Anyhow, what i feel about the whole situation is that ICAP or SECP should not relax the requirements of standards, because it will hamper the consistency and uniformity objectives of IFAC...
The thing in my opinion that can be done is that, the industrialist, exporters and other loss sufferers, should try to negotiate with the CBR on this matter...
