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Financial costs/foreign exchange

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Financial costs/foreign exchange

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  • July 8, 2021 at 10:14 am #627216
    vikipulka
    Participant
    • Topics: 19
    • Replies: 21
    • ☆

    Good day,
    I can usually see that there 2 separate lines in the PL statement for Financial costs (for bank charges, %, etc.) and Net foreign exchange (loss)/profit (for fx transactions).
    However, I noticed that in one example fx transactions and bank charges are combined in one PL line “finance costs”.
    Is this correct? Couldn’t find any IFRS standard saying this

    Thanks in advance!

    July 10, 2021 at 9:38 am #627332
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7079
    • ☆☆☆☆☆

    Hi,

    There is no specific rule as to where the exchange gains/losses appear, if they are included in finance costs then there is not requirement to show them separately, so just combine them.

    Thanks

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