Is AS 11 applicable for expenditure incurred on foreign travel in foreign currency.
Menu
AS 11
Replies (3)
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.
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
