IAS 21Chapter 6Lesson 1
Where to record the exchange difference: profit or loss or other comprehensive income
Step 1 of 9Learning objectives
Go deeper+1 point of attention
Differences on monetary items go to profit or loss; a non-monetary item at cost generates none; the exchange component of a gain or loss in other comprehensive income follows the same treatment.
40 minNot started
Learning objectives
- Record in profit or loss the exchange difference on a monetary item, at settlement and at the reporting date.
- Explain why a non-monetary item at cost generates no exchange difference.
- Place the exchange component of a revaluation in the same line as the revaluation.