Page 366 - F2 Integrated Workbook STUDENT 2019
P. 366
Chapter 17
2.2 Translation of foreign subsidiary into P’s functional currency
As per IAS 21The effects of movements in foreign currency exchange rates:
Statement of financial position
Assets and liabilities @ CR
Statement of profit or loss and other comprehensive income
Income and expenses @ AR
ALL foreign currency exchange differences from translating a foreign
subsidiary will be taken to GROUP RESERVES.
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