TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All TMI Notes
Join Channel
Note
Bookmark
Share
Don't have an account? Register Here
Manual - ICDS VI : Effects of Changes in Foreign Exchange Rates
In respect of transactions that are settled beyond the end of the previous year, AS 11 provides that the exchange difference is to be recognised in each intervening period up to the date of final settlement.
For example, if a monetary item (debtor) is accounted for ₹ 100 and is settled subsequently after 3 years for ₹ 120, the exchange gain or loss on settlement or conversion would be accounted and treated as income or expense (except in case of such items relating to non-integral foreign
operations).
Exchange difference recognition requires periodic recognition until final settlement, treated as income or expense for monetary items. Exchange differences on monetary transactions settled after the end of the previous year must be recognised in each intervening period up to final settlement, with exchange gain or loss on settlement treated as income or expense, except for items relating to nonintegral foreign operations.
of Press 'Enter' after typing page number.
TaxTMI 
