The accounting standard IAS 21 sets out how reporting entities should include foreign currency transactions and foreign operations in their financial statements. Find articles, books and online resources providing quick links to the standard, summaries, guidance and news of recent developments.
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The IFRS Foundation and International Accounting Standards Board (IASB) provides free access to the consolidated unaccompanied international accounting standards for the current year through its website; you will need to register to gain access.
These standards are the unaccompanied versions and do not include any additional content that accompanies the full IAS and IFRSs such as illustrative examples, implementation guidance and bases for conclusions.
IAS 21 The Effects of Changes in Foreign Exchange Rates
IASB technical summary, as issued at 1 January 2014.
IAS 21 – The Effects of Changes in Foreign Exchange Rates
Timeline and summary from Deloitte IAS Plus, with information on related interpretations and amendments under consideration.
Topic summary provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.
Financial Reporting Faculty
The faculty offers assistance and support in IFRS, UK GAAP and other aspects of business reporting. It offers technical briefings and factsheets, IFRS and UK GAAP standards-trackers, plus practical advice from industry experts and working accountants.
The IFRS Interpretations Committee proposes two new Interpretations
Press release from the IASB, issued on 21 October 2015, announcing draft interpretations on IAS 12 and IAS 21 that address uncertainty over income tax treatments and advance consideration of foreign currency transactions.
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Interactive training modules from Deloitte with practical scenarios, worked examples and questions to test your knowledge. Each module is available to download as a zip file free of charge (registration is required).
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