Transaction are covered by Ind AS 21
What type of transaction are covered by Ind AS 21?
- Accounting for transactions and balances in foreign currencies
- Translating the results and financial position of foreign operations, included in the financial statements of the entity by consolidation or the equity method
- Translating an entity’s results and financial position into a presentation currency
- Applies to the presentation of an entity’s financial statements in a foreign currency and sets out requirements for the resulting financial statements to be described as complying with Indian Accounting Standards (Ind ASs).
- For translations of financial information into a foreign currency that do not meet these requirements, this Standard specifies information to be disclosed.
Foreign operations – Ind AS 21
Exchange differences on monetary items
Exchange differences from non-monetary items
Difference between monetary and non-monetary items
Treatment of exchange differences – Ind AS 21
Presentation Currency – Ind AS 21
Objectives, Scope & Benefits Ind AS 21
Functional Currency – Ind AS 21
Exchange differences from the presentation currency
Miscellaneous items – Ind AS 21
Recognition and measurement – Ind AS 21
Transaction are outside the scope of Ind AS 21
Financial statements presented in any currency
Difference between FX translation and FX revaluation