banner_ad

AS 11 treatment

This query is : Resolved 
Profile Image

Profile Image

(Querist)
02 July 2009 as difference in foreign exchange rate should be charged to p&l a/c, one of my listed company client is adjusting such foreign exchange credit balance to sales a/c. saying that it ultimately charged to p&l a/c. is the treatment right?
Profile Image

chetan soni

Profile Image

chetan soni (Expert)
02 July 2009 Yes, the treatment is right. Provided theis gain/loss occured on account of sale tramsactions.

As 11 is not stoping to credit such gain/loss to be charged to such respect account.
Profile Image

Praveen Sharma

Profile Image

Praveen Sharma (Expert)
02 July 2009 charged to p&l a/c
Profile Image

NISHIT A. DOSHI

Profile Image

NISHIT A. DOSHI (Expert)
03 July 2009 it has to be charged to p&l a/c .otherwise it is the violation of as-11 and requires qualification from the auditor.

with regards,
C.A.NISHIT DOSHI
Profile Image

CA Nitin Wadhwani

Profile Image

CA Nitin Wadhwani (Expert)
03 July 2009 The treatment is not correct.
As per AS-5 read with AS-11, the amount of foreign exchange gain or loss should be shown separately.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
02 May 2026
Experience Audit Manager

AGGARWAL SAMIR & CO

New Delhi

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details