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Hi mike,
I’ve watched your lectures on foreign transactions. Do you know if the treatment of exchange rate differences have changed since your lecture? I’ve seen questions where exchange rate differences when translating a subsidiary are recognised in other comprehensive income.
Many thanksRob
I have the feeling that, by the time I get to calculating the exchange difference, I’m happy to include it anywhere!
In individual company statements, any exchange difference is included in profit or loss
But on consolidation, exchange differences go through other comprehensive income and separately in statement of changes in equity
I seem to recollect that I simply show them in statement of changes (it’s been some time since I looked at an IAS 21 question!)
Does that answer you?
Yes great thank you
After tomorrow I also intend to give it a while until I look at ias 21 again!
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