Accounting treatment
This query is : Resolved
23 November 2016
Dear Experts
I have following doubts plz clarify
1) We import machine & capitalise the same in the books
2) we are making payment to supplier from whom machine has been imported
Now doubt is what will be the Accounting Treatment for Difference arising on account of exchange gain or loss due to exchange rate between Machine capitalise date & Payment date
Do we have to give P& L effect or Do we have to Capitalise the gain/loss
Note: Payment is been making by using own fund not borrowing of foreign currency
Pls Awaiting for your reply
Rgds
Karthik
I have following doubts plz clarify
1) We import machine & capitalise the same in the books
2) we are making payment to supplier from whom machine has been imported
Now doubt is what will be the Accounting Treatment for Difference arising on account of exchange gain or loss due to exchange rate between Machine capitalise date & Payment date
Do we have to give P& L effect or Do we have to Capitalise the gain/loss
Note: Payment is been making by using own fund not borrowing of foreign currency
Pls Awaiting for your reply
Rgds
Karthik
24 November 2016
Dear Experts
Pls share some body knowledge on this above I am awaiting for the reply from Experts
Rgds
Karthik
Pls share some body knowledge on this above I am awaiting for the reply from Experts
Rgds
Karthik
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