Accounting treatment

This query is : Resolved

Karthik Kumar N (Querist)
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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

Karthik Kumar N

Karthik Kumar N (Querist)
Follow

24 November 2016 Dear Experts
Pls share some body knowledge on this above I am awaiting for the reply from Experts

Rgds
Karthik

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