Cost audit
This query is : Resolved
05 August 2012
Hi...
What is the treatment of Foreign Exchange Fluctuation Gain/Loss in Cost audit???
Is it a cost Or Non Cost??& Why??Please give me a reason.
What is the treatment of Foreign Exchange Fluctuation Gain/Loss in Cost audit???
Is it a cost Or Non Cost??& Why??Please give me a reason.
CA. Vikash Dwivedi
(Expert)
06 August 2012
as per AS11 FX gain/ loss goes in to P&L Account and can not be part of cost of P&M or any other asset. The companies Act is also amended suitably.
may be you can refer Cost Accounting Standard.
may be you can refer Cost Accounting Standard.
06 August 2012
For Costing,
In case if It is related to material,is it a cost??
If no,what is the treatment??Is it included in reconciliation???
In case if It is related to material,is it a cost??
If no,what is the treatment??Is it included in reconciliation???
Rahul Jain
(Expert)
19 September 2012
Yes it is included in reconcilation statement....... all costs that do not form part of normal production are shown in reconcilation......
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
- EPF ECR NEW FILE SEP 17TH 2026
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Capitalgain tax purposes for valuation report compulsory
- TDS on purchase of under construction property from a reseller
- SALARY CAN BE CAPITALIZE
- Non filing of I T Returns
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
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
