09 January 2014
One of my friend who runs a proprietary business, has imported a machine from outside India in 2012. Now while making payment of the same he has to pay higher amount as dollar is increased. Now the difference i.e should forex loss be capitalised and debited to asset or it should be expensed out? The differential amount is very large. If you have any notification / supporting pls provide the same
CAclubindia
