The accounting standard FRS 23 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.
FRS 23 replaces SSAP 20 and has the effect of implementing IAS 21: Effects of Changes in Foreign Exchange Rates in the UK.
Expert help for your enquiries and research.
T +44 (0)20 7920 8620
F +44 (0)20 7920 8621
Financial Reporting Standard 23: The Effects of Changes in Foreign Exchange Rates was issued by the Accounting Standards Board (ASB) in December 2004.
We can provide print and electronic copies of the original standard or a consolidated version with amendments, subject to licenses.
There is no free, online version of the standard available. However, logged-in ICAEW members and ACA students may view FRS 23 as first published by the ASB in December 2004.
Improvements to Financial Reporting Standards
Amendment issued by the ASB in December 2008.
Amendment to Financial Reporting Standard 23 (IAS 21) ‘The Effects of Changes in Foreign Exchange Rates’ – Net Investment in a Foreign Operation (December 2005)
Amendment issued by the ASB in December 2005.
The Effects of Changes in Foreign Exchange Rates
Summary published by the Financial Reporting Council.
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.
ASB Issues Amendment to Standard on Foreign Exchange Rates
Press notice issued by the ASB on 21 December 2005.
ASB Issues Convergence Standards
Press notice issued by the Financial Reporting Council on 2 December 2004.
Articles are available to logged-in ICAEW members, ACA students and other entitled users.
To find out how you can borrow books from the Library please see our guide to book loans. You can obtain copies of articles or extracts of books and reports by post, fax or email through our document supply service.
Foreign currency translation is covered by Section 30 of FRS 102.
If you're having trouble finding the information you need, ask the Library & Information Service. Contact us by telephone on +44 (0)20 7920 8620, by fax on +44 (0)20 7920 8621 or by email at firstname.lastname@example.org.