effect of foreign currency
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 April 2010
Hiiiiiiii
what will be the accounting of exchange difference arising on loan taken in foreign currency for purchase of an assets.
Diff. arising due to revaluation of foreign borrowing will be capitalised with assets or expensed in profit or loss account.
what will be the accounting of exchange difference arising on loan taken in foreign currency for purchase of an assets.
Diff. arising due to revaluation of foreign borrowing will be capitalised with assets or expensed in profit or loss account.
shakuntala chhangani
(Expert)
26 April 2010
vide notification dated 31.3.2009 option is available; either u can capitalise it or can expense it
Regards, CA Shakuntala Chhangani
Regards, CA Shakuntala Chhangani
26 April 2010
Pl see companies (Accounting Standards) Amendment Rules,2009 in the following link.
https://www.caclubindia.com/notice_circulars/notice_list_detail.asp?notice_id=1918
https://www.caclubindia.com/notice_circulars/notice_list_detail.asp?notice_id=1918
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