As - 11 ; break up of fixed assets

This query is : Resolved

CA CMA CS VIRAG SHAH (Querist)
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23 October 2013 Sir / Madam,

While recognizing Non - Integral Foreign Operations, Fixed Assets are recognized at Closing Rate.

What effect should be given in Break-up of Fixed Assets?

Whether it should be added / deducted from Additions / Deductions amount to the extent of Forex Difference ????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 October 2013 It must be shown at the rates purchase-cost value or the historical vaule.

for difference in rate of exchange treatment u need to follow AS 11.

for dep assets the exchange diff is adjusted in cost of depreciable assets and for others it is transferred in a sep a/c called Foreign currency translation monetary difference a/c.