I am converting INR TB to $ TB, all BS items at closing rate and all P&L items are at average rate, but I am getting huge amount as exchange fluctuation difference, should i need to treat it as exchange loss? is that the right way to do?
12 August 2010
Thats Simple Subhash.. thanks for your reply.. but actually it is not allowed under India GAAP and US GAAP.. and logically also not the right thing to do.
13 August 2010
Dear Nazir Here reporting currency is USD as you are converting INR to USD AS 11 will not apply are thess FS to fiiled In USA? then follow their standard
CAclubindia
