IAS 21Chapter 15Lesson 1
Disclosures, tax and boundaries (IFRS 9, IAS 12)
Step 1 of 7Learning objectives
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The notes disclose exchange differences in profit or loss and in other comprehensive income with the reconciliation of the reserve, and the functional and presentation currencies; tax belongs to IAS 12 and financial instruments to IFRS 9.
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Learning objectives
- Disclose exchange differences and the reconciliation of the translation reserve in the notes.
- Explain when the presentation currency, a change of functional currency and a convenience translation call for disclosure.
- Place the tax effect (IAS 12) and the boundary with IFRS 9.