CERTYNEX IFRS ACADEMY

Brannec holds a forward exchange contract within the scope of IFRS 9, measured at fair value through profit or loss. What should be said about this contract under IAS 21?

It falls under IAS 21 for its measurement, IFRS 9 dealing only with its presentation in the financial statements.

It is excluded from the scope of IAS 21, but its exchange differences are still added to the amount of differences in profit or loss to be disclosed.

It is excluded from the scope of IAS 21, and its differences are also excluded from the amount of exchange differences in profit or loss to be disclosed.

It falls under IAS 21, like every foreign currency derivative, whichever standard it depends on.