Business Daily from THE HINDU group of publications
Monday, Dec 01, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Dec 01, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Mentor
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Forex Info-Tech - Accounting Standards Columns - For the Asking Dollarisation of balance-sheet I am an employee of the IT sector. Sometime back a suggestion was made to dollarise the balance sheets of IT companies so that they did not face the problem of currency mismatch — their earnings in dollars are matched by payment of salary, for example, in dollars. I wish the suggestion were accepted because in the current situation I would be able to get Rs 50 per dollar in the market. Madhuri Rao, Bangalore You are obviously attracted by the idea because it suits you now. Would you still accept it if the exchange rate reverts to Rs 40? The point is the idea was harebrained inasmuch as it would have met with a lot of employee resistance. Yes, those working onsite would have had no choice but employees in India would certainly not have been game to the idea of passing on of the exchange-rate risk by the employer to the employees. S. MURLIDHARAN More Stories on : Forex | Accounting Standards | For the Asking
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