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 Walsall adjusted.

When you transfer the amount of partial payment (advance) to the supplier, the cost of the product will eventually be made up of two parts:

1st - on the prepaid date,

2nd - on the course on the date of transfer of the right of belonging (letter of the Ministry of Finance of The Russian Federation dated May 13, 2010 No. 03-03-06/1/328).

This procedure applies both for accounting (p. 9 PBU 3/2006) and for, as usual, tax (p. 10 p. 272 NK of the Russian Federation).

If the organization pays for the products of their shipment, then in this case the debt to the supplier should be counted at the extreme number of each month. In all this, there is a positive or negative, as people used to put it, exchange rate differences, which should be included in non-realization income or expenses (p. 4 p. 271 and sub. 6 p. 7 p. 272 NK of the Russian Federation).