CA Final| Full IND AS 21 - The Effect of Changes in Foreign Exchange Rates I Part 1

Ind AS 21 deals with how to account for the changes in foreign exchange rates. It explains how foreign currency transactions will be recorded, converted into a presentation currency and will address how the foreign exchange rate affects the foreign currency transactions in the financial statements.

This Ind AS reduces the risk of incorrect accounting of foreign transactions and ensures correct functional currency being used. If the functional currency is not determined as per the requirements of the standard, it would result in a major impact on the financial statements of the entity.

This Ind AS 21 is an essential learning for Auditors, F&A Professionals, CAs, ACCAs,etc.

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