The cost of imported product and how to take into account exchange rate differences
The cost of imported product and how to take into account exchange rate differences The cost of an imported product expressed in foreign currency in accounting is reflected in the rubles at the rate of the Bank of Russia at the date of transfer of funds to a foreign supplier. Course differences in accounting and taxation If there was payment upfront, the cost of the imported product should, to put it mildly, be reflected in the accounting at the rate of the Bank of Russia, valid at the date of payment. When transferring the right of ownership to the product, the advances given to the supplier should not be overestimated (p. 11 p. 250, sub. 5 p. 1 art. 265 NK of the Russian Federation). If the importing organization has transferred the means of the asset of how it received the right of ownership of the product, the value is reflected in the accounting at the rate of the Bank of Russia at the date of transfer of ownership, and at the time of payment is Accountants Wal...