MANAGING DIRECTOR
This query is : Open
15 October 2008
Dear frnds,
Pls advise me whether the Foriegn exchange loss can be setoff against revaluation reserve?..??..?
If so whether it is perfect compliance of Accounting standards or any violation...
regards
Adithya
Pls advise me whether the Foriegn exchange loss can be setoff against revaluation reserve?..??..?
If so whether it is perfect compliance of Accounting standards or any violation...
regards
Adithya
S.Srinivasaraghavan
(Expert)
18 October 2008
Can not be set off.
Deepak Agrawal
(Expert)
12 November 2008
NO IT CANNOT BE SET-OFF as revaluation reserve is non-cash profit...
Guest
Guest
(Expert)
09 October 2009
Can not be set off, as both are different
04 April 2012
As per AS 11 any gain or loss arising due to fluctuation in exchange rates has to be credited/debited to P&L Account.
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