Exchange Rate
This query is : Resolved
19 August 2009
Hi,
if i want to convert our profit & loss account and Balance for consolidating with our parent co.s books (which is in US) what exchange rate i need to take for.
1. Profit and Loss Items.
2. Balance Sheet Items.
is any AS having information about it???
Regards,
Nazir
if i want to convert our profit & loss account and Balance for consolidating with our parent co.s books (which is in US) what exchange rate i need to take for.
1. Profit and Loss Items.
2. Balance Sheet Items.
is any AS having information about it???
Regards,
Nazir
20 August 2009
Hi,
1. All b/s items wil be converted by the rate prevailing on the dt of b/s i.e. if b/s is of 31/03/09 than rt prevailing on 31/03/09. But Fixed assets wil be valued at the rt prevailing on the date of purchase less depreciation.
2. As far as P&L a/c is concerned Opening stock wil be converted at the rt on the 1st day of the yr e.g. in above example rt as on 1/4/08. Cl.stock wil be converted at the rt s on 31/03/09. All exps. & Income wil be converted by avg.rate during the year.Abt coversion of purchase & sale I m nt sure,bt soon i'll tel u
Have a nice day!!
1. All b/s items wil be converted by the rate prevailing on the dt of b/s i.e. if b/s is of 31/03/09 than rt prevailing on 31/03/09. But Fixed assets wil be valued at the rt prevailing on the date of purchase less depreciation.
2. As far as P&L a/c is concerned Opening stock wil be converted at the rt on the 1st day of the yr e.g. in above example rt as on 1/4/08. Cl.stock wil be converted at the rt s on 31/03/09. All exps. & Income wil be converted by avg.rate during the year.Abt coversion of purchase & sale I m nt sure,bt soon i'll tel u
Have a nice day!!
20 August 2009
Hi refer following links. It wil help u out.
1.https://www.caalley.com/as/as11_revisednew.pdf
2.https://www.indiacorplaw.com/AS%2011.pdf
Bye....
1.https://www.caalley.com/as/as11_revisednew.pdf
2.https://www.indiacorplaw.com/AS%2011.pdf
Bye....
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Unregistered suppliers utility
- NRI starting business in India
- ITDS U/S.194T of Firm
- Non-Compliance documents have not been submitted by the contractors debited
- Capital gain on sale and purchase of plot
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Resigning a auditor from the company for misconduct
- GST not cancelled by tenant
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- 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
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner 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
