As - 11 ; break up of fixed assets
This query is : Resolved
CA CMA CS VIRAG SHAH
(Querist)
23 October 2013
Sir / Madam,
While recognizing Non - Integral Foreign Operations, Fixed Assets are recognized at Closing Rate.
What effect should be given in Break-up of Fixed Assets?
Whether it should be added / deducted from Additions / Deductions amount to the extent of Forex Difference ????
While recognizing Non - Integral Foreign Operations, Fixed Assets are recognized at Closing Rate.
What effect should be given in Break-up of Fixed Assets?
Whether it should be added / deducted from Additions / Deductions amount to the extent of Forex Difference ????
23 October 2013
It must be shown at the rates purchase-cost value or the historical vaule.
for difference in rate of exchange treatment u need to follow AS 11.
for dep assets the exchange diff is adjusted in cost of depreciable assets and for others it is transferred in a sep a/c called Foreign currency translation monetary difference a/c.
for difference in rate of exchange treatment u need to follow AS 11.
for dep assets the exchange diff is adjusted in cost of depreciable assets and for others it is transferred in a sep a/c called Foreign currency translation monetary difference a/c.
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