The Companies (Accounting Standards) (Second Amendment) Rules,2011.

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....section (3C) of section 211 of the Companies Act, 1956 ( 1 of 1956), the Central Government in consultation with the National Advisory Committee on Accounting Standards, hereby makes the following amendments in the Companies (Accounting Standards) Rules, 2006, namely :- 1. (1) These rules may be called the Companies (Accounting Standards) (Second Amendment) Rules, 2011. (2) They shall come i....

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....tary items at rates different from those at which they were initially recorded during the period, or reported in previous financial statements, insofar as they relate to the acquisition of a depreciable capital asset, can be added to or deducted from the cost of the asset and shall be depreciated over the balance life of the asset, and in other cases, can be accumulated in a "Foreign Currency Mone....