Page 273 - F1 Integrated Workbook STUDENT 2018

IAS 21 The effects of changes in foreign exchange rates

2.2 Presentation currency

By definition from IAS 21 The Effects of Changes in Exchange Rates,
the presentation currency is 'the currency in which the entity
presents its financial statements' (IAS 21, para 8).

This can be different from the functional currency, particularly if the
entity in question is a foreign owned subsidiary. It may have to present
its financial statements in the currency of its parent, even though that is
different to its own functional currency. This will be covered in greater
depth at

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