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
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