AS-11-accounting of difference in foreign exchange loss
This query is : Resolved
09 February 2009
Example: Me has taken a loan from a Foreign bank=$10000 at that time the rate of 1 $ was Rs.45/- but now the rate has changed to Rs.50/- per $.
What are the actions that I should take in my Loan Account, Shall i revise my Loan a/c now with the present rate change?
How I should account the difference in the monthly repayments due to the present rate change?
What are the actions that I should take in my Loan Account, Shall i revise my Loan a/c now with the present rate change?
How I should account the difference in the monthly repayments due to the present rate change?
29 March 2012
The difference arising at the time of repayment shall be debited/credited to P&L account.
At year end the closing balance of the loan shall be reinstated at the closing rate and any exchange gain or loss shall be credited/debited to P&L A/c.
At year end the closing balance of the loan shall be reinstated at the closing rate and any exchange gain or loss shall be credited/debited to P&L A/c.
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
- Depreciation of fixed assets- coop housing society in mumbai
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Rental income gst and it purpose
- Management System (IMS)
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
