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As-11

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(Querist)
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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
11 May 2012 As per AS 11 (Revised) ALL exchange differences have to be debited to the Profit & Loss Account.
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