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Q. > Please Help: ECB
What is the accounting treatment of ECB?Tell me applicability of AS 11 on it.Any specific notifications issued in this regard?What is the best book or site in which i can have deep understanding of the concept.
1 Answers
answered Jan 06, 2012 by Ashish Karundia , New Delhi
Dear Shalu,
External Commercial Borrowings(ECB)is as good as loan i.e. the treatment is similar to that of foreign currency loan. The same will be restatement as on the Balance Sheet date as per AS-11 and accordingly foreign exchange gain/loss will be accounted.
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