AS-11 The Effects Of Changes In Foreign Exchange Rate | Accounting Standard | CA Inter Accounting
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3 سال پیش
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In This Video We Will
In This Video We Will Discuss Accounting Standard (AS-11) The Effects Of Changes In Foreign Exchange Rate all Concepts, Problems and Examples for CA Inter Accounting have been discussed by Chandan Poddar Sir For CA Intermediate Grooming Education.
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐁𝐨𝐭𝐡 𝐆𝐫𝐨𝐮𝐩
https://www.escholars.in/p/ca-interme...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟏
https://www.escholars.in/p/ca-inter-g...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟐
https://www.escholars.in/p/ca-inter-g...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐮𝐫𝐬𝐞𝐬
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⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐒𝐮𝐠𝐠𝐞𝐬𝐭𝐞𝐝 𝐀𝐧𝐬𝐰𝐞𝐫𝐬
https://www.escholars.in/store/ca-int...
⚫ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐨𝐮𝐫 𝐄𝐬𝐜𝐡𝐨𝐥𝐚𝐫𝐬 𝐀𝐈 𝐀𝐩𝐩
https://play.google.com/store/apps/de...
Watch Next:-
⚫ AS-12 Government Grant:-
AS-12 Government Grant | Accounting S...
⚫ Investment Accounting:-
Investment Accounting | CA Intermedia...
Topic covered:-
00:00 Introduction.
00:21 Accounting Treatment.
01:39 Reporting at subsequent balance date.
05:16 Treatment of exchange difference.
10:39 Question Number-1.
12:01 Question Number-2.
13:47 Forward Contract.
15:52 Type of Forward Contract.
18:23 Example Number-1
21:06 Example Number-2.
Businesses might be involved in foreign exchange related transactions in a couple of ways. To include foreign operations and foreign currency transactions in their financial statements, the transactions should be expressed and reported in financial statements in the reporting currency of the enterprise.
Applicability of AS 11 The Effects of Changes in Foreign Exchange Rates
The standard deals with the principal issue with respect to accounting for foreign operations and foreign currency transactions in deciding which exchange rate to be used and guidance on recognizing the financial effect of changes in exchange rates in the financial statements.
This standard doesn’t specify the currency in which companies represent their books of accounts. Though, a company usually uses the domiciled country’s currency. In case it employs a different currency, the Standard necessitates disclosing the reasons for the same. The Standard also requires disclosing the reasons for any change in reporting currency
AS 11 does not deal with restating financial statements of any business from a reporting currency into another currency for the easing the users accustomed to such currency or for such similar purposes
Foreign Currency Transactions
Initial Recognition
A foreign currency transaction is any transaction that is denominated in or needs to settle in any foreign currency. Such foreign currency transactions must be recorded, on initial recognition in reporting currency, by applying the exchange rate between the foreign currency and the reporting currency to the foreign currency amount at the date of the transaction.
Reporting at Subsequent Balance Sheet Dates
At every balance sheet date:
all the foreign currency monetary items must be reported at the closing rate. Though, in specific circumstances, the closing rate might not exhibit with reasonable accuracy amount in the reporting currency which is expected to be realized.
Para 46 and 46A
The broad principle is that the exchange differences should be taken to the profit or loss statement, notwithstanding the exchange difference which arises on the revenue account or the capital account. However, the Union Government of India, vide its notification issued on March 31st, 2009
CA Intermediate: Grooming education academy is engaged in providing qualitative commerce education to society at concessional prices. We believe in Research, reasoning and result and thus our learners admit our USP of: "Pioneer in developing concepts". We provide the complete tutorials for CA Intermediate.
To know about the courses and books that best suits your requirement call at our helpline number: 𝟖𝟖𝟖 𝟖𝟖𝟖 𝟎𝟒𝟎𝟐
𝐕𝐢𝐬𝐢𝐭 𝐎𝐮𝐫 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 to know more about the courses available: https://www.escholars.in/
𝐉𝐨𝐢𝐧 𝐨𝐮𝐫 𝐭𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐝𝐚𝐢𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬::: https://t.me/CAIntermediateGrooming
𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞: Facebook: GroomingEducationAcademy
𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 𝐏𝐚𝐠𝐞: https://www.instagram.com/groomingedu...
𝐓𝐰𝐢𝐭𝐭𝐞𝐫 𝐏𝐚𝐠𝐞: Twitter: AcademyGrooming
𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 𝐏𝐚𝐠𝐞: LinkedIn: grooming-education-academy
𝐏𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐏𝐚𝐠𝐞: https://www.pinterest.de/groomingeduc...
#CAInter #ForeignExchangeRate #AS-11 #Accounts #ChandanPoddar #Accounting #AccountingStandard #CAIntermediate
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐁𝐨𝐭𝐡 𝐆𝐫𝐨𝐮𝐩
https://www.escholars.in/p/ca-interme...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟏
https://www.escholars.in/p/ca-inter-g...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟐
https://www.escholars.in/p/ca-inter-g...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐮𝐫𝐬𝐞𝐬
https://www.escholars.in/store/ca-int...
⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐒𝐮𝐠𝐠𝐞𝐬𝐭𝐞𝐝 𝐀𝐧𝐬𝐰𝐞𝐫𝐬
https://www.escholars.in/store/ca-int...
⚫ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐨𝐮𝐫 𝐄𝐬𝐜𝐡𝐨𝐥𝐚𝐫𝐬 𝐀𝐈 𝐀𝐩𝐩
https://play.google.com/store/apps/de...
Watch Next:-
⚫ AS-12 Government Grant:-
AS-12 Government Grant | Accounting S...
⚫ Investment Accounting:-
Investment Accounting | CA Intermedia...
Topic covered:-
00:00 Introduction.
00:21 Accounting Treatment.
01:39 Reporting at subsequent balance date.
05:16 Treatment of exchange difference.
10:39 Question Number-1.
12:01 Question Number-2.
13:47 Forward Contract.
15:52 Type of Forward Contract.
18:23 Example Number-1
21:06 Example Number-2.
Businesses might be involved in foreign exchange related transactions in a couple of ways. To include foreign operations and foreign currency transactions in their financial statements, the transactions should be expressed and reported in financial statements in the reporting currency of the enterprise.
Applicability of AS 11 The Effects of Changes in Foreign Exchange Rates
The standard deals with the principal issue with respect to accounting for foreign operations and foreign currency transactions in deciding which exchange rate to be used and guidance on recognizing the financial effect of changes in exchange rates in the financial statements.
This standard doesn’t specify the currency in which companies represent their books of accounts. Though, a company usually uses the domiciled country’s currency. In case it employs a different currency, the Standard necessitates disclosing the reasons for the same. The Standard also requires disclosing the reasons for any change in reporting currency
AS 11 does not deal with restating financial statements of any business from a reporting currency into another currency for the easing the users accustomed to such currency or for such similar purposes
Foreign Currency Transactions
Initial Recognition
A foreign currency transaction is any transaction that is denominated in or needs to settle in any foreign currency. Such foreign currency transactions must be recorded, on initial recognition in reporting currency, by applying the exchange rate between the foreign currency and the reporting currency to the foreign currency amount at the date of the transaction.
Reporting at Subsequent Balance Sheet Dates
At every balance sheet date:
all the foreign currency monetary items must be reported at the closing rate. Though, in specific circumstances, the closing rate might not exhibit with reasonable accuracy amount in the reporting currency which is expected to be realized.
Para 46 and 46A
The broad principle is that the exchange differences should be taken to the profit or loss statement, notwithstanding the exchange difference which arises on the revenue account or the capital account. However, the Union Government of India, vide its notification issued on March 31st, 2009
CA Intermediate: Grooming education academy is engaged in providing qualitative commerce education to society at concessional prices. We believe in Research, reasoning and result and thus our learners admit our USP of: "Pioneer in developing concepts". We provide the complete tutorials for CA Intermediate.
To know about the courses and books that best suits your requirement call at our helpline number: 𝟖𝟖𝟖 𝟖𝟖𝟖 𝟎𝟒𝟎𝟐
𝐕𝐢𝐬𝐢𝐭 𝐎𝐮𝐫 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 to know more about the courses available: https://www.escholars.in/
𝐉𝐨𝐢𝐧 𝐨𝐮𝐫 𝐭𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐝𝐚𝐢𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬::: https://t.me/CAIntermediateGrooming
𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞: Facebook: GroomingEducationAcademy
𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 𝐏𝐚𝐠𝐞: https://www.instagram.com/groomingedu...
𝐓𝐰𝐢𝐭𝐭𝐞𝐫 𝐏𝐚𝐠𝐞: Twitter: AcademyGrooming
𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 𝐏𝐚𝐠𝐞: LinkedIn: grooming-education-academy
𝐏𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐏𝐚𝐠𝐞: https://www.pinterest.de/groomingeduc...
#CAInter #ForeignExchangeRate #AS-11 #Accounts #ChandanPoddar #Accounting #AccountingStandard #CAIntermediate
3 سال پیش
در تاریخ 1400/01/11 منتشر شده
است.
74,777
بـار بازدید شده