As-11
This query is : Resolved
30 April 2012
Hello Sir,
Can u plz tell me that if a FCCB loan has been raised by a company and from that loan amount assets has been purchased in India, so at the year end, whether the foreign exchange gain/loss will be adjusted to the cost of that or that loss/profit will be t/f to P/L A/c.Loan has not been paid till date and full payment has been made for the assets purchased in India.
Can u plz tell me that if a FCCB loan has been raised by a company and from that loan amount assets has been purchased in India, so at the year end, whether the foreign exchange gain/loss will be adjusted to the cost of that or that loss/profit will be t/f to P/L A/c.Loan has not been paid till date and full payment has been made for the assets purchased in India.
11 May 2012
As per AS 11 (Revised) ALL exchange differences have to be debited to the Profit & Loss Account.
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