My clients Import assets from a country, which date my client gives an import order to vendor that day dollar value is Rs 40 (for E.G 1 Dollar = Rs. 40).
But when he received that asset from Vendor and that time dollar value is 42.
Purchase Order of asset as on 01.01.2009 @ $ 4000(1 $ is 40)
Receive of Assets 25.01.2009 @ $ 4000( but dollar value is 42)
and at the time of receive invoice from vendor as on 4.2.2009 ( dollar value is 44) and assets capitalized on 4.4.2009
my q is where I adjust this foreign currency valuations?
But when he received that asset from Vendor and that time dollar value is 42.
Purchase Order of asset as on 01.01.2009 @ $ 4000(1 $ is 40)
Receive of Assets 25.01.2009 @ $ 4000( but dollar value is 42)
and at the time of receive invoice from vendor as on 4.2.2009 ( dollar value is 44) and assets capitalized on 4.4.2009
my q is where I adjust this foreign currency valuations?
And what is my capitalized assets value?
1) Capitalized on before invoice received as on 28.01.2009
2) And another case capitalized assets after invoice received as on 4.2.2009
plz suggest me in that case
CAclubindia
