AS 11............................

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saritha (Querist)
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29 August 2008 what is the accounting treatment of following items

1.forex difference of principal amount of loan taken for purchase of fixed assets

2.forex difference of interest on above loan

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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30 August 2008 1. Please clarify how the different arose on principal amount. The response depends upon your answer.
2. Please clarify how the exchange difference occurred on interest payment.

saritha

saritha (Querist)
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31 August 2008 1. a person took loan of 100000 on i.4.2000

2. interest accrued on it is 10000
principal is repayable in 10 instalments of 10000 each

3. first repayment is on 1.5.01

exc rate:1.4.00 - 40
31.3.01- 45
1.5.01 - 50

how is exc diff on int & principal accounted
both differences should be debited to p&l a/c

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