Companies (Accounting Standards) Amendment Rules, 2011 – Amendment in date of Applicability of Accounting Standard (AS) 11 relating to ‘The Effects of Changes in Foreign Exchange Rates’

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MINISTRY OF CORPORATE AFFAIRS

Notification

Date- 29th December, 2011

GSR. :- In exercise of the powers conferred by clause (a) of sub‑ section (1) of Section 642 read with sub-section (1) of Section 210A and sub-section (3C) of Section 211 of the Companies Act, 1956 (1 of1956), the Central Government in consultation with the National Advisory Committee on Accounting Standards, hereby makes the following amendment in the Companies (Accounting Standards) Rules, 2006, hereinafter called the said rules, namely:-
1. (1) These rules may be called the Companies (Accounting Standards) Amendment Rules, 2011.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the said rules, in the annexure under the heading “B. Accounting Standard”, in the sub-heading “Accounting Standard (AS) 11″ relating to “The Effects of Changes in Foreign Exchange Rates”, in paragraph 46, for the words and figures “46. In respect of accounting periods commencing on or after 7^th December, 2006 and ending on or before 31′ March, 2012″, the following shall be substituted, namely :-

“46. In respect of accounting periods commencing on or after 7^th December, 2006 and ending on or before 31′ March, 2020.