Accouting of Foreign exchange gain
This query is : Resolved
26 August 2010
Please let me know the treatment of exchange gain on the puchase of fixed assets by a proprietor..
Whether to reduce the cost of asset
or
to show as income in the P & L Account?
Whether to reduce the cost of asset
or
to show as income in the P & L Account?
26 August 2010
As per treatment of fixed asset under AS-10,the exchange difference need to be adjused with Fixed assets
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