Explain about the what does the contents of IFRS IAS 21 “Effects of Changes in Foreign Exchange Rates” includes?
IAS 21 “Effects of Changes in Foreign Exchange Rates”
- – Identification of the functional currency;
- – Assessment at initial recognition of foreign currency transactions;
- – Recognition of exchange differences;
- – Select the presentation currency;
- – How to convert statements into the presentation currency, the current and historical.
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