SAFTA(South Association Free Trade Area) | Trade | Class 10 Accountancy Nepal | Accounts Nepal

Welcome to Everest Online Academy! In this video, we explore how SAFTA (South Asian Free Trade Area) impacts international trade transactions and their accounting treatment in Class 10 Accountancy. Understanding how to record imports, exports, and other trade-related transactions under SAFTA is crucial for scoring well in your SEE exams. Whether you're struggling with journal entries or need help solving numerical problems step-by-step, this video will guide you with clear explanations and solved examples.

✅ What You’ll Learn in This Video:

Introduction to SAFTA and Its Role in Trade :
What is SAFTA? (Definition and Importance)
Purpose: To promote free trade among South Asian countries by reducing tariffs and trade barriers.
Impact on Nepal’s imports and exports under SAFTA.
Key Concepts :
Recording Import Transactions Under SAFTA :
Steps:
Record the purchase of goods in foreign currency.
Convert the amount into local currency using the exchange rate.
Add customs duty, freight, and other charges to calculate the total cost.
Example:
Total Cost=Cost of Goods+Customs Duty+Freight
Recording Export Transactions Under SAFTA :
Steps:
Record the sale of goods in foreign currency.
Convert the amount into local currency using the exchange rate.
Deduct any expenses incurred during the export process.
Example:
Net Revenue=Revenue from Sale−Export Expenses
Foreign Exchange Adjustments :
Accounting for fluctuations in exchange rates.
Recording gains or losses due to currency conversion.
Journal Entries for SAFTA Transactions :
For Imports:
Copy
1
2
3
Purchases A/c Dr.
Customs Duty A/c Dr.
To Bank/Cash A/c
For Exports:
Copy
1
2
Bank/Cash A/c Dr.
To Sales A/c
For Foreign Exchange Gains/Losses:
Copy
1
2
Foreign Exchange Gain A/c Dr.
To Profit & Loss A/c
Step-by-Step Solutions to SEE Past Year Questions :
Solving numerical problems involving SAFTA-related transactions.
Application of concepts in real exam questions.
Common Mistakes to Avoid While Recording SAFTA Transactions
Tips to Score Full Marks in Accountancy Questions
Practice Exercises for Better Understanding
💡 Why Watch This Video?
The SAFTA-related transactions chapter is a frequently tested topic in the Class 10 Accountancy exam, especially in the context of journal entries and numerical problems. By mastering this concept, you can confidently tackle exam questions and secure full marks in this section. This video simplifies the theory, provides solved examples, and includes practical tips to ensure you’re fully prepared.

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💬 Let’s Discuss:
Have any doubts or questions about SAFTA-related transactions or related topics? Drop them in the comments below, and we’ll get back to you as soon as possible. Also, let us know what other topics or SEE questions you’d like us to cover in future videos.

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