I would like to receive inputs on this query, thanks in advance.
A company based in India wants to buy goods from company based in Europe. Following scenario can be assumed
01.03.2012 : A deal was done = The company in India would buy100 EUR (purchase) worth of goods, by credit term 90 days after invoice date (estimated due 31.08.2012)
The company in India, book FX forward contract =1 EUR @ 42.00 INR/EUR by settlement date 31.08.2012
31.05.2012 : The suppliers finishes the production after taking almost 3 months and issue invoice for …

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Dear All
Our Company is into Oil trade and has entered into options in commodity.
Can some one give me the list of accounting entries under USGAAP in the books of both Options writer and options buyer.
Request you to give the journal entries under both these circumstances
1. If the company follows hedge accounting
2. If the company doest follow hedge accounting
Also let me know the relavant accounting standard.
Thanks for your help.
Regards
Ganesh

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