accounting standard
This query is : Resolved
27 May 2011
if a fixed asset is acquired from outside india for rs. 100000.At the time of payment exchange rate fluctuate & we have to pay 120000.Now what will be treatment of this amt of 20000 as per AS-11 or AS-10.Whether it will be adjusted in cost of asset or will be charged to P&L A/c?
Vidya Jain
(Expert)
28 May 2011
It should be adjusted with the costs of assets.
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