Queries relating to AS 11

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Akshay Matkar (Querist)
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18 June 2008 i have the following 3 queries on AS11:-

1 Is reinstatement of advances paid necessary under AS11?

2 Can forex gain/loss be adjusted against cost of fixed assets ?

3 To buy an asset a certain amt is paid as full & final payment.Should the cif value of the asset as on bill of entry dt. be considered as its cost or should the amt paid be its cost?also plz suggest the a/cing treatment for your view?

PC-www.bharadwajinstitute.com

PC-www.bharadwajinstitute.com (Expert)
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20 June 2008 1. Yes

2. It should not be adjusted....Historical Cost

3. Amount paid will be the cost.

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