AS 11

friend its applicable we have to take the average rate of exchange for the p&l items. since travelling exp is an indirect exp which comes in p&l a/c we have to take average rate of exchange i.e.exchange rate as on 1.4.07 & rate as on 31.3.08

Bye,

yes it is correct. every expediture should be converted. in the same way the travelling expenses can also be converted by average rate

yes it is correct.