18 June 2008
i have the following 3 queries on AS11:-
1 Is reinstatement of advances paid necessary under AS11?
2 Can forex gain/loss be adjusted against cost of fixed assets ?
3 To buy an asset a certain amt is paid as full & final payment.Should the cif value of the asset as on bill of entry dt. be considered as its cost or should the amt paid be its cost?also plz suggest the a/cing treatment for your view?