Page 269 - F1 Integrated Workbook STUDENT 2018

Chapter 16

IAS 21 The effects of changes in foreign

exchange rates

Outcome

By the end of this session you should be able to:

 explain foreign currency translation principles, including the principles of
functional and presentation currencies

 account for initial transactions involving foreign currency

 account for settled and unsettled transactions at the reporting date for both
monetary and non-monetary items

and answer questions relating to these areas.

The underpinning detail for this chapter in your Integrated Workbook can
be found in Chapter 16 of your Study Text

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