sir as per IAS 21 if there is no change in the FV of an asset(that is measured using revaluation model) since its purchase last year, then at the reporting date do we retranslate the asset at the closing exchange rate?
Ask the Tutor ACCA SBR
IAS 21 FV model
sir I realised the title of this post is slightly misleading. I actually wanted to write IAS 21 under FV model. I know that IAS 21 is effects of changes in foreign exchange rates. Apologies for the goof up.
5y ago#2Foreign transactions - any balance which is revalued at the SFP date must be remeasured at the closing rate.
In the real exam don't spend time quoting standard numbers.
Sign into reply to this topic.