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September 2012

Clarification on Para 46A of Notification No. GSR 914(E) dated 29.12.2011 on AS 11 relating to “ Effects of Changes in Foreign Exchange Rates”

By Sejal Vasa, Company Secretary
Reading Time 1 mins
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In view of the several representations from industry associations, the Ministry of Corporate Affairs has vide Circular No 25/2012 dated 9th August 2012, clarified that Para 6 of of AS 11 relating to “Effects of Changes in Foreign Exchange Rates” and Para 4(e) of AS 16 relating to borrowing costs, shall not apply to a company which is applying clause 46A of AS 11.

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