Beruflich Dokumente
Kultur Dokumente
APPLICABILITY
ALL ENTERPRISES - CORPORATES OR
NON-CORPORATES.
STATEMENT OF 1994 REVISED IN 2003. REVISED STATEMENT EFFECTIVE FROM
SCOPE
ACCOUNTING FOR TRANSACTIONS IN
FOREIGN CURRENCIES.
TRANSLATING THE FINANCIAL
EXCLUSIONS
DOES NOT APPLY ON RESTATEMENTS
DOES
NOT APPLY ON CASH FLOW STATEMENTS NOT DEAL WITH EXCHANGE DIFFERENCES RELATING TO INTEREST ON FOREIGN CURRENCY BORROWINGS
DOES
OF TRANSACTION .
AVERAGE RATE IF NOT TOO MUCH
FLUCTUATION.
TO BE RESTATED AT CLOSING
RATE
FOREIGN CURRENCY NOTES BALANCE IN FOREIGN CURRENCY BANK A/CS RECEIVABLES/ PAYABLES FOREIGN CURRENCY LOANS AT HISTORICAL COST - RATE OF DATE OF TRANSACTION
NON MONETARY ITEM AT FAIR MARKET - AT CLOSING RATE VALUE INVENTORIES/ INVESTMENTS/
FIXED ASSETS
(REVISED)AS-11
SCHEDULE VI
EXCHANGE DIFFERENCE OF LIABILITIES INCURRED FOR FIXED ASSESTS TO BE ADJUSTED IN THE COST OF RESPECTIVE FIXED ASSESTS
ISSUES AS PER PREFACE TO ACCOUNTING STANDARD STATUTORY REQUIREMENT OF ANY LAW TO GET PRECEEDENCE OVER AS IN CASE AS-11 BEING FOLLOWED - DEVIATION FROM INCOME TAX ACT SECTION 43A - ADJUSTMENT OF TIMING DIFFERENCE AS PER AS-22
RESPECTIVE HEAD OF INCOME/LOSS. EVENT OCCURING AFTER BALANCE SHEET DATE-ACTUAL SETTLEMENT AMOUNT.
TO PAYABLE $ 1000
42,000
BALANCE SHEET
PAYABLES 45,000 CLOSING 42,000
STOCK
FORWARD EXHANGE CONTRACT BE RECOGNISED AS INCOME OR EXPENSE OVER THE LIFE OF THE CONTRACT - PERIOD WISE.
TO
ASSETS & LIABILITIES BOTH MONETARY AND CLOSING RATE NON MONETARY
BE TRANSFERRED TO INCOME/ EXPENSE IN THE PERIOD IN WHICH PROFIT / LOSS ON DISPOSAL OF NET INVESTMENT IN OPERATION IS RECOGNISED
ISSUES
CONSOLIDATION OF FINANCIAL
STATEMENTS
RECLASSIFICATION OF FOREIGN
DISCLOSURES
AMOUNT OF EXCHANGE
DIFFERENCES INCLUDED IN P & L A/C. NET EXCHANGE DIFFERENCE ACCUMULATED IN FOREIGN CURRENCY TRANSLATION RESERVE
AMOUNT OF EXCHANGE
MANAGEMENT POLICY.