AS-11-accounting of difference in foreign exchange loss

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CA. Shiburaj K (Querist)
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09 February 2009 Example: Me has taken a loan from a Foreign bank=$10000 at that time the rate of 1 $ was Rs.45/- but now the rate has changed to Rs.50/- per $.

What are the actions that I should take in my Loan Account, Shall i revise my Loan a/c now with the present rate change?

How I should account the difference in the monthly repayments due to the present rate change?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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29 March 2012 The difference arising at the time of repayment shall be debited/credited to P&L account.

At year end the closing balance of the loan shall be reinstated at the closing rate and any exchange gain or loss shall be credited/debited to P&L A/c.

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AS-11-accounting of difference in foreign exchange loss

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