Exchange gain losss
kiran (accountant) (413 Points)
14 December 2022
what is accounting of exchange gain loss on import assets it's capitalised or not ?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161303 Points)
Replied 14 December 2022
For capital assets it can be capitalized...
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 14 December 2022
If the price grows expense it as a loss. If it decreases from the purchase date treat it as a gain.
sabyasachi mukherjee
(26331 Points)
Replied 15 December 2022
kiran
(accountant)
(413 Points)
Replied 15 December 2022
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 16 December 2022
Fx gain or loss is directly taken to euity or oci depending upon the recycling, first, subsequent treatments and balances in revaluation reserves. It cant be a liability. Make a rectification and transfer it off.
Yasaswi Gomes new
(Finance )
(4487 Points)
Replied 16 December 2022
If you meant owners equity ledger,
Dr. Owners equity
Cr. Reserves
CAclubindia
