Outstanding Of Parties
This query is : Resolved
09 June 2010
Dear Expert's
i am involved in preparation of parties outstanding aging.but while performing this function i m little bit confused in weather to take original outstanding or to take outstanding based on revaluation(if it is a foreign party)
for an example:
Mr.XYZ outstanding as on 31st march
1.100(USD)x 45(Original rate)=4500
2.100(USD)x 46(revalued rate)=4600
now from the example please tell me which one i should consider 1 or 2 for aging
and also provide me some references from I GAAP and IFRS
i am involved in preparation of parties outstanding aging.but while performing this function i m little bit confused in weather to take original outstanding or to take outstanding based on revaluation(if it is a foreign party)
for an example:
Mr.XYZ outstanding as on 31st march
1.100(USD)x 45(Original rate)=4500
2.100(USD)x 46(revalued rate)=4600
now from the example please tell me which one i should consider 1 or 2 for aging
and also provide me some references from I GAAP and IFRS
shakuntala chhangani
(Expert)
15 June 2010
It is 2. and right now it is as per AS 11
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