Please tell me whether the conversion of monetary items in the Balance sheet like debtors are to be made at RBI rates compulsorily( at the balance sheet date)? or can we go for CBEC rates? Answer to be given in reference to AS 11. Thank You..
Menu
Foreign exchange
Replies (1)
brother it can be made at market rate.... as 11 tells to convert it using closing rate... thats it
Recent Threads
- RCM doubt please clarify
- Should open NRO account?
- Which IT section applicable for cash transaction i
- ITR -property dealer
- Warehouse Registration, Whether mandatory?
- Time limit for claiming Input GST credit
- Gst rate and Sac code or RCM attract
- Poll: Do you spend > 30 min/day fixing Tally JSO
- Interest on Accident Claim by Minor
- Capital Gain and Basic Exemption Limit
Related Threads
CAclubindia
