https://www.taxtmi.com/manuals?id=1909 Comparative summary of foreign exchange accounting: ICDS requires conversion of monetary items at closing rates with exchange differences recognised in profit or loss for income computation (subject to section 43A/Rule 115), makes no scope exception for exchange differences on foreign currency borrowings, and translates non-monetary historical-cost items at transaction-date rates. AS 11 and Ind AS introduce exceptions for borrowing-related exchange differences, a functional currency concept, and rules for accumulation and recycling of translation differences for net investments and foreign operations. en-us Sat, 14 Jan 2023 11:30:00 +0530 Fri, 30 Jun 2023 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1909 Comparative summary of foreign exchange accounting: ICDS requires conversion of monetary items at closing rates with exchange differences recognised in profit or loss for income computation (subject to section 43A/Rule 115), makes no scope exception for exchange differences on foreign currency borrowings, and translates non-monetary historical-cost items at transaction-date rates. AS 11 and Ind AS introduce exceptions for borrowing-related exchange differences, a functional currency concept, and rules for accumulation and recycling of translation differences for net investments and foreign operations. Manuals Income Tax Sat, 14 Jan 2023 11:30:00 +0530 https://www.taxtmi.com/manuals?id=1909