IAS21

An extract from the course notes! (page 111) Accounting for any exchange difference (exdiff) • the exdiff is part of the profits (or loss) for the year • no guidance is given as to exactly where, within the Statement of Profit or Loss and Other Comprehensive Income, the exdiff should be included • generally accepted practice • if it’s from trading transactions, include within operating • if it’s from financing transactions, include within financing