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of <h1>New Rule 46A in AS 11: Adjust Exchange Differences on Long-Term Foreign Currency Items in Financial Statements</h1> The Companies (Accounting Standards) (Second Amendment) Rules, 2011, effective from their publication date, amend the Companies (Accounting Standards) Rules, 2006. The amendment introduces paragraph 46A under Accounting Standard (AS) 11, addressing the effects of changes in foreign exchange rates. For accounting periods starting on or after April 1, 2011, enterprises can opt to adjust exchange differences on long-term foreign currency monetary items related to depreciable capital assets. These differences can be added or deducted from the asset's cost and depreciated over its remaining life or accumulated in a translation difference account and amortized over the asset or liability's balance period. The option is irrevocable and must be disclosed in financial statements.
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