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Restatement of monetary and non monetary items

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 Dear sir/Madam

Please let me know whether advance amount paid in foreign currency in respect of fixed asset purchase as balnce sheet date is to be restated as monetary item or non monetary item.

Thanks for prompt reply .
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Sanjay Chauhan (IFRS)

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Sanjay Chauhan (IFRS) (Expert)
17 July 2012 Refer response in the following link:

https://www.caclubindia.com/experts/as-11-query-foreign-currency-advance-restatement-1026094.asp
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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 dear sir thanks for your reply.




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