IFRS 18Chapter 2Lesson 3
Taxes, discontinued operations, foreign exchange differences and hedges
Step 1 of 6Learning objectives
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Income taxes (IAS 12) and the result of discontinued operations (IFRS 5) each have their own category; a foreign exchange difference follows the category of the item that gave rise to it, and the result of a hedging derivative follows in principle the category of the items affected by the risk managed (IFRS 18, para. B70).
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Learning objectives
- Identify the items of the income taxes and discontinued operations categories and their link with IAS 12 and IFRS 5.
- Determine the category of a foreign exchange difference according to the item that gave rise to it.
- Classify the result of a hedging derivative according to the risks managed and the prohibition on grossing up.