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Recognising exchange loss

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(Querist)
08 August 2009 if a company doing exim activities does not recognise exchange translation gain/loss can anything be commented upon?
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ravi taneja

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ravi taneja (Expert)
09 August 2009 AS-11 clearly say that exchange gain/loss should be recoganized in profit & loss account. Audit need to qualify his report for non compliance of AS -11.
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