Treatment of Foreign Exchange Gain Loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2009
Pl provide answer to my following query.
Machinery imported which as already been capitalised in books two years back.
Against this import some payments are still outstanding in the liability side.
After making this payment or at the year end forign exchange gain or loss arises.
Shell we capitalised this or treated as revenue gain or expenditure.
Machinery imported which as already been capitalised in books two years back.
Against this import some payments are still outstanding in the liability side.
After making this payment or at the year end forign exchange gain or loss arises.
Shell we capitalised this or treated as revenue gain or expenditure.
03 December 2009
Pl refer clause 46 of AS 11.
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