19 September 2011
Fixed asset will be stated at the value of purchase and if any payment is outstanding towards value of asset than Foreign Exchange Fluctuation effect will be require to given.
29 September 2011
in case the asset is purchased on credit in foreign currency then in such case, the closing balance of the liability is required to be valued at the currency rate as on 31 march ans the difference in the exchange rate is reqd to be charged as exchange loss/profit and to be transferred to p/l A/c
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