regarding foreign exch. treatment on fixed assets

This query is : Resolved 

22 September 2007 whether foreign exchange gain or loss arise on foreign exchange liability on fixed assets is debited or credited to p&l a/c or to fixed assets a/c.

22 September 2007 There is no gain or loss is arise due to rate differance,the amount you paid for asset that is the actual value of asset

22 September 2007 To Fixed Assets first and then show a reconciliation to show the deviation between AS 11 which requires all gain or loss of Forex fluctuation to be charges to P&L and Schedule VI to the Companies Act, 1956




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