Page 271 - F1 Integrated Workbook STUDENT 2018

IAS 21 The effects of changes in foreign exchange rates

IAS 21 – The effects of changes in

exchange rates

IAS 21 The Effects of Changes in Foreign Exchange Rates, deals with:

 the definition of functional and presentation currencies

 accounting for individual transactions in a foreign currency and

 translating the financial statements of a foreign operation (this topic is beyond
the scope of the F1 syllabus and will be studied at F2).

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