TREATMENT OF CONVERSION CHARGES
This query is : Resolved
19 February 2008
WHAT IS THE ACCOUNTING TREATMENT OF CONVERSION CHARGES AND COMMISSION CHARGED BY BANK FOR CONVERTING THE RUPEES INTO DOLLER FOR PURCHASING THE NEW ASSETS FROM OTHER COUNTRY ( IMPORT )
S.Srinivasaraghavan
(Expert)
19 February 2008
You have to capitalise these charges to the asset procured.
19 February 2008
All expenses to bring the asset upto working condition, should be capitalised. therefore you should capitalize the charges.
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