AS 30,31,32
This query is : Resolved
06 May 2011
Hi,
Can any one thro light on the following?
My client has taken INR-USD swap for INR Loan from Indian bank for term loan. The term loan is for capex. The bank is sending
MTM Loss statement on a daily basis. For the qtr ended Rs. 50 lacs. Should i recognise this loss as MTM in P&L? What is the AS to be followed. Is it AS 30, 31, 32 or AS11.If i follow AS11, since this loan is for capex, can i adjust Loss/profit in the carrying amount of Fixed assets.
Request opinion.
Can any one thro light on the following?
My client has taken INR-USD swap for INR Loan from Indian bank for term loan. The term loan is for capex. The bank is sending
MTM Loss statement on a daily basis. For the qtr ended Rs. 50 lacs. Should i recognise this loss as MTM in P&L? What is the AS to be followed. Is it AS 30, 31, 32 or AS11.If i follow AS11, since this loan is for capex, can i adjust Loss/profit in the carrying amount of Fixed assets.
Request opinion.
11 May 2011
As per AS 30-32 you need to post the MTM to P&L is you are not following Hedge Accounting.
If you follow HA, you can recognize the MTM changes to OCI and once the capex project is over you can recognize the change as part of Carrying Amount of Fixed Asset.
If you follow HA, you can recognize the MTM changes to OCI and once the capex project is over you can recognize the change as part of Carrying Amount of Fixed Asset.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Gst Sales of FY 2023-24
- RCM - commercial rent paid to URP under GST
- Payable outstanding for years disallowance
- SEC 54 OF IT ACT
- Offsetting interest income against derivative trading losses
- GST Annual Returns filing due date
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Need help with business structure for setting up a new business
- TDS applicability on Service through ECO
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
