As-11
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 November 2011
Can foreign exchange loss on long term foreign currency borrowing this year, for purchase of plant & machinery be debited to P/L A/c?????
02 December 2011
Gain/loss arising due to foreign exchange fluctuations has to be credited/debited to the Profit & Loss Account, even if the payment relates to a fixed asset.
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2011
Thanx...but as pe schedule VI it has to be capitalised and it is mentioned that schedule VI prevails over AS. can u please give me the source of the information given by you.
05 December 2011
Schedule VI has been revised. Revised Schedule VI provides that AS shall prevail over Schedule VI.
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