banner_ad

Foreign Exchange Gain / Loss

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 August 2010 Fixed Assets put to use in one accounting year at a foreign exchange rate but the payment for the same is made in the next accounting year at a different foriegn exhange rate as the foreign exchange rates changed - please suggest the accounting treatement for foreign exchange gain or loss as per accounting standard
Profile Image

vrnanda

Profile Image

vrnanda (Expert)
21 August 2010 gain/los on foreign exchange fluctuations should be charged to the profit and loss account.

liability should be restated and resulting the gain/loss should be expensed to the profit and loss account that year, and difference between balance sheet date and the date of payment should be charged to the profit and loss in the year in which the payment is made.
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
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details