As-11
This query is : Resolved
24 February 2012
Someone help to provide crux of AS-11- effect of change in foreign exchange rate , type of transaction will be converted at which rate i.e sale , purchase, day to day expenses incurred, fixed assets debtors , investment loan creditors etc.. along with latest amendment of para 46 . this AS is very confusing to me request to provide in ppt short or any suitable to you as i am preparing for my CA final exam may-12.
28 February 2012
As per the AS you have to book the difference in the foreign exchange for revenue items and on account of capital goods. Suppose you have made an agreement for Rs. 100 and on arrival of goods in in you have to pay Rs. 130 then Rs. 30 is loss on foreign exchange fluctuation if it is trading items then it is to be booked in P & L a/c but if it is for Capital goods then the difference is to be added to the cost of the Capital item
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- Applicable TDS for Purchase of Flat from NRI
- ITR validation error - Balance sheet is not filled
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
