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Download the PDF of IAS 21, which prescribes how to account for transactions and operations in foreign currencies and how to translate financial statements into a presentation currency. Learn the objective, scope, definitions, approach and disclosure requirements of this Standard.
IAS 21 requires the recognition of exchange differences in profit or loss or OCI—with no reference to equity—because exchange differences meet the definition of income or expenses. Accordingly, the Committee concluded that an entity does not recognise exchange differences directly in equity.
A factsheet that explains how to determine the functional currency of an entity under IFRS and how to deal with a change in the functional currency. It also provides guidance on the functional currency of a foreign operation and the translation of financial statements.
This PDF document is the official International Accounting Standard 21 issued by the International Financial Reporting Standards (IFRS) Foundation. It explains how to account for transactions and balances in foreign currencies, how to translate financial statements into a presentation currency, and how to report the effects of changes in exchange rates.
Download a PDF file of IAS 21, the International Accounting Standard that specifies how to account for transactions and balances in foreign currency and report the effects of exchange rate changes. Learn the scope, objective, accounting impact and examples of IAS 21.
IAS 21 explains how to account for foreign currency transactions and operations and how to translate financial statements into a presentation currency. It covers the key definitions, exchange rates, exchange differences, and reporting methods for foreign currency matters.
Download the PDF file of IAS 21, which explains how to account for foreign currency transactions, foreign operations and translation of financial statements. Learn the key concepts, principles and procedures of IAS 21 with examples and extracts.
