just came to clear a doubt.. Am having a doubt in AS 11 & 10. The AS has told about capitalisation of exchange differences incurred on fixed assets related borrowings.. but i couldnt find whether it has said anything on advance paid to a supplier and the asset received in later date. here while making the payment the exchange rate was 49.1 and while receiving the asset it is 50.2. Kindly clarify whether Foreign exchange fluctuation has to be booked.. If yes how... Kindly justify ur answer...
Menu
AS 11 related
Replies (1)
If the payment is made to supplier towardsd purchase of fixed assets then it will be debited to p-l account and the payment is toward borrowinf then it will deal as per AS -16 relating to borrowing cost.
Recent Topics :
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
Related Topics :
CAclubindia
