work is worship
Service
[ Scorecard : 1810]
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Posted On 10 July 2012 at 15:45
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Hi, A private ltd.co. . has received share application money to the tune of $ 3 million from its overseas investors. Now the private co. wants to refund back the said money. When the money was received the FX rate was 53 but now it is 48. How the difference of Rs. 3 be treated, should it be through PL or directly in Equity.
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Manjunatha M K
Manager - Accounts
[ Scorecard : 314]
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Posted On 10 July 2012 at 16:22
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CA.Varalakshmi.M
Manager-Finance
[ Scorecard : 475]
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Posted On 10 July 2012 at 18:05
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S it is through profit and loss a/c
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mike
MTO
[ Scorecard : 43]
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Posted On 10 July 2012 at 22:03
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Not directly to equity at all. It should must be through Profit & Loss Account.
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SHIJO PAUL
ASST.MANAGER - FINANCE
[ Scorecard : 22]
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Posted On 11 July 2012 at 17:30
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I think it must be accounted in the profit & loss account as income from exchange difference.
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work is worship
Service
[ Scorecard : 1810]
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Posted On 14 July 2012 at 13:48
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According to me it should be treated as Capital Loss, it cannot be a revenue loss.
Please comment.
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mike
MTO
[ Scorecard : 43]
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Posted On 24 August 2012 at 21:34
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Originally posted by : SHIJO PAUL |
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I think it must be accounted in the profit & loss merchant account as income from exchange difference. |
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Not directly to equity at all. It should must be through Profit & Loss Account.
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