Foreign currency items file: initial recognition, closing, exchange differences, advances and estimated rate

• Item, transaction date and counterparty

  Text

  ACHAT_DE_BARRIQUES_EN_USD_A_CREDIT

• Nature of the item

  ChoiceRequired

  Monetary item

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  50,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  92 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  95 %

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  96.5 %

• Total change in value of a revalued item (functional currency)

  Number

• Exchange component of that change (case data)

  Number

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

• Amount at the reference rate given by the case

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  46,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  47,500

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  1,500

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  48,250

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  750

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  46,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  0

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  46,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  0

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	46,000
  Trade payables		46,000

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Account	Debit	Credit
  Exchange loss	1,500
  Trade payables		1,500

• Entry: settlement of the payable with exchange difference

  Entry

  Account	Debit	Credit
  Trade payables cleared	47,500
  Exchange loss on settlement	750
  Cash		48,250

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	46,000
  Cash		46,000

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Debit Property, plant and equipment ← Total change in value of a revalued item (functional currency) ; Credit Revaluation surplus (other comprehensive income) ← Total change in value of a revalued item (functional currency)

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	46,000
  Cash		46,000

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Exchangeability at the measurement date

  JudgmentRequired

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedNot filled in this instance
• Purchase entry balancedPass
• Settlement entry balancedPass

Assets

-2,250

Liabilities

0

Profit or loss

-2,250

OCI

0

Equity

-2,250

• Item, transaction date and counterparty

  Text

  MACHINE_ACHETEE_EN_USD_PAYEE_COMPTANT

• Nature of the item

  ChoiceRequired

  Non-monetary item at historical cost

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  200,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  90 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total change in value of a revalued item (functional currency)

  Number

• Exchange component of that change (case data)

  Number

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

• Amount at the reference rate given by the case

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  180,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  180,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  0

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  180,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  0

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	180,000
  Trade payables		180,000

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Debit Exchange loss ← Exchange difference at closing (translated amount less carrying amount) ; Credit Trade payables ← Exchange difference at closing (translated amount less carrying amount)

• Entry: settlement of the payable with exchange difference

  Entry

  Debit Trade payables cleared ← Amount translated at the closing rate ; Debit Exchange loss on settlement ← Exchange difference on settlement (amount settled less carrying amount at closing) ; Credit Cash ← Amount settled translated at the rate of the settlement date

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	180,000
  Cash		180,000

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Debit Property, plant and equipment ← Total change in value of a revalued item (functional currency) ; Credit Revaluation surplus (other comprehensive income) ← Total change in value of a revalued item (functional currency)

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	180,000
  Cash		180,000

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Exchangeability at the measurement date

  JudgmentRequired

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedNot filled in this instance
• Purchase entry balancedPass
• Settlement entry balancedNot evaluated

Assets

180,000

Liabilities

180,000

Profit or loss

0

OCI

0

Equity

0

• Item, transaction date and counterparty

  Text

  TERRAIN_AUX_ETATS_UNIS_REEVALUE

• Nature of the item

  ChoiceRequired

  Non-monetary item at fair value

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  560,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  95 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total change in value of a revalued item (functional currency)

  Number

  82,000

• Exchange component of that change (case data)

  Number

  25,000

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

• Amount at the reference rate given by the case

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  532,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  532,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  57,000

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  532,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  0

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	532,000
  Trade payables		532,000

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Debit Exchange loss ← Exchange difference at closing (translated amount less carrying amount) ; Credit Trade payables ← Exchange difference at closing (translated amount less carrying amount)

• Entry: settlement of the payable with exchange difference

  Entry

  Debit Trade payables cleared ← Amount translated at the closing rate ; Debit Exchange loss on settlement ← Exchange difference on settlement (amount settled less carrying amount at closing) ; Credit Cash ← Amount settled translated at the rate of the settlement date

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	532,000
  Cash		532,000

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Account	Debit	Credit
  Property, plant and equipment	82,000
  Revaluation surplus (other comprehensive income)		82,000

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	532,000
  Cash		532,000

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Exchangeability at the measurement date

  JudgmentRequired

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedNot filled in this instance
• Purchase entry balancedPass
• Settlement entry balancedNot evaluated

Assets

614,000

Liabilities

532,000

Profit or loss

0

OCI

82,000

Equity

82,000

• Item, transaction date and counterparty

  Text

  VENTES_DE_NOVEMBRE_AUX_CLIENTS_AMERICAINS

• Nature of the item

  ChoiceRequired

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  120,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  90.2 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total change in value of a revalued item (functional currency)

  Number

• Exchange component of that change (case data)

  Number

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

• Amount at the reference rate given by the case

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  108,240

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  108,240

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  0

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  108,240

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  0

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	108,240
  Trade payables		108,240

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Debit Exchange loss ← Exchange difference at closing (translated amount less carrying amount) ; Credit Trade payables ← Exchange difference at closing (translated amount less carrying amount)

• Entry: settlement of the payable with exchange difference

  Entry

  Debit Trade payables cleared ← Amount translated at the closing rate ; Debit Exchange loss on settlement ← Exchange difference on settlement (amount settled less carrying amount at closing) ; Credit Cash ← Amount settled translated at the rate of the settlement date

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	108,240
  Cash		108,240

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Debit Property, plant and equipment ← Total change in value of a revalued item (functional currency) ; Credit Revaluation surplus (other comprehensive income) ← Total change in value of a revalued item (functional currency)

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	108,240
  Cash		108,240

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation)

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

  PLAGE_ETROITE_DES_COURS_QUOTIDIENS_DE_NOVEMBRE

• Exchangeability at the measurement date

  JudgmentRequired

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedPass
• Purchase entry balancedPass
• Settlement entry balancedNot evaluated

Assets

108,240

Liabilities

108,240

Profit or loss

0

OCI

0

Equity

0

• Item, transaction date and counterparty

  Text

  ACOMPTE_VERSE_POUR_UN_MATERIEL_LIVRABLE_EN_20X6

• Nature of the item

  ChoiceRequired

  Non-monetary item at historical cost

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  40,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  91 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total change in value of a revalued item (functional currency)

  Number

• Exchange component of that change (case data)

  Number

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

• Amount at the reference rate given by the case

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  36,400

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  36,400

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  0

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  36,400

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  0

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	36,400
  Trade payables		36,400

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Debit Exchange loss ← Exchange difference at closing (translated amount less carrying amount) ; Credit Trade payables ← Exchange difference at closing (translated amount less carrying amount)

• Entry: settlement of the payable with exchange difference

  Entry

  Debit Trade payables cleared ← Amount translated at the closing rate ; Debit Exchange loss on settlement ← Exchange difference on settlement (amount settled less carrying amount at closing) ; Credit Cash ← Amount settled translated at the rate of the settlement date

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	36,400
  Cash		36,400

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Debit Property, plant and equipment ← Total change in value of a revalued item (functional currency) ; Credit Revaluation surplus (other comprehensive income) ← Total change in value of a revalued item (functional currency)

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	36,400
  Cash		36,400

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Exchangeability at the measurement date

  JudgmentRequired

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedNot filled in this instance
• Purchase entry balancedPass
• Settlement entry balancedNot evaluated

Assets

36,400

Liabilities

36,400

Profit or loss

0

OCI

0

Equity

0

• Item, transaction date and counterparty

  Text

  PRET_EN_NOK_A_LA_FILIALE_NORVEGIENNE

• Nature of the item

  ChoiceRequired

  Monetary item

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  4,000,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  9 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  9.5 %

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total change in value of a revalued item (functional currency)

  Number

• Exchange component of that change (case data)

  Number

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

• Amount at the reference rate given by the case

  Number

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  360,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  380,000

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  20,000

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  360,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  0

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  360,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  0

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	360,000
  Trade payables		360,000

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Account	Debit	Credit
  Exchange loss	20,000
  Trade payables		20,000

• Entry: settlement of the payable with exchange difference

  Entry

  Debit Trade payables cleared ← Amount translated at the closing rate ; Debit Exchange loss on settlement ← Exchange difference on settlement (amount settled less carrying amount at closing) ; Credit Cash ← Amount settled translated at the rate of the settlement date

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	360,000
  Cash		360,000

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Debit Property, plant and equipment ← Total change in value of a revalued item (functional currency) ; Credit Revaluation surplus (other comprehensive income) ← Total change in value of a revalued item (functional currency)

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	360,000
  Cash		360,000

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Exchangeability at the measurement date

  JudgmentRequired

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedNot filled in this instance
• Purchase entry balancedPass
• Settlement entry balancedNot evaluated

Assets

360,000

Liabilities

380,000

Profit or loss

-20,000

OCI

0

Equity

-20,000

• Item, transaction date and counterparty

  Text

  TERRAIN_ACQUIS_EN_ZRD_MONNAIE_NON_ECHANGEABLE

• Nature of the item

  ChoiceRequired

  Non-monetary item at fair value

  Monetary item / Non-monetary item at historical cost / Non-monetary item at fair value

• Amount in foreign currency (price, fair value or advance)

  Number

  400,000

• Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

  3 %

• Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

  Number

• Total change in value of a revalued item (functional currency)

  Number

• Exchange component of that change (case data)

  Number

• Cost translated into the functional currency (comparison)

  Number

• Net realisable value translated into the functional currency (comparison)

  Number

• Amount at the estimated spot rate (case data)

  Number

  12,000

• Amount at the reference rate given by the case

  Number

  10,000

• Evidence obtained and referenced (category, document reference)

  EvidenceRequired

IAS 21 §8IAS 21 §8AIAS 21 §16IAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Points reviewed: treatment by nature of item

  ChecklistRequired

  • Right to receive or obligation to deliver a fixed or determinable number of units of currency
  • Initial recognition at the spot rate of the transaction date (or an approximating average rate)
  • Monetary items translated at the closing rate
  • Non-monetary items at historical cost: rate of the transaction date
  • Non-monetary items at fair value: rate of the date the fair value was determined
  • Exchange component follows the line of the gain or loss (profit or loss or other comprehensive income)
  • Advance: transaction date = date of initial recognition of the asset or liability arising from the payment
  • Exchangeability assessed at the measurement date and for the purpose retained

IAS 21 §19AIAS 21 §21IAS 21 §22IAS 21 §23IAS 21 §28IAS 21 §30IFRIC 22

• Amount in functional currency at the rate of the transaction date (or average rate given by the case)

  CalculationRequired

  12,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Amount translated at the closing rate

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Closing rate (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference at closing (translated amount less carrying amount)

  CalculationRequired

  Amount translated at the closing rate ; − Amount in functional currency at the rate of the transaction date (or average rate given by the case)

• Amount settled translated at the rate of the settlement date

  CalculationRequired

  Amount in foreign currency (price, fair value or advance) ; Rate of the settlement date (per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Exchange difference on settlement (amount settled less carrying amount at closing)

  CalculationRequired

  Amount settled translated at the rate of the settlement date ; − Amount translated at the closing rate

• Non-monetary item translated at the rate of the transaction date or of the fair value date

  CalculationRequired

  12,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Change in value excluding the exchange component (other component)

  CalculationRequired

  0

  Total change in value of a revalued item (functional currency) ; − Exchange component of that change (case data)

• Lower of the two amounts compared in the functional currency

  CalculationRequired

  Cost translated into the functional currency (comparison) ; Net realisable value translated into the functional currency (comparison)

• Advance translated at the rate of the date of payment or receipt

  CalculationRequired

  12,000

  Amount in foreign currency (price, fair value or advance) ; Rate of the relevant date (transaction, advance or fair value date; per 100 units of foreign currency: a rate of 0.92 is entered as 92)

• Effect of using the estimated rate (difference from the amount at the reference rate)

  CalculationRequired

  2,000

  Amount at the estimated spot rate (case data) ; − Amount at the reference rate given by the case

• Entry: purchase in foreign currency at the spot rate

  Entry

  Account	Debit	Credit
  Inventory	12,000
  Trade payables		12,000

• Entry: payable remeasured at the closing rate (exchange loss)

  Entry

  Debit Exchange loss ← Exchange difference at closing (translated amount less carrying amount) ; Credit Trade payables ← Exchange difference at closing (translated amount less carrying amount)

• Entry: settlement of the payable with exchange difference

  Entry

  Debit Trade payables cleared ← Amount translated at the closing rate ; Debit Exchange loss on settlement ← Exchange difference on settlement (amount settled less carrying amount at closing) ; Credit Cash ← Amount settled translated at the rate of the settlement date

• Entry: non-monetary item bought in foreign currency, kept at the historical rate

  Entry

  Account	Debit	Credit
  Property, plant and equipment	12,000
  Cash		12,000

• Entry: revaluation in other comprehensive income, exchange component included

  Entry

  Debit Property, plant and equipment ← Total change in value of a revalued item (functional currency) ; Credit Revaluation surplus (other comprehensive income) ← Total change in value of a revalued item (functional currency)

• Entry: advance paid translated at the rate of the payment date

  Entry

  Account	Debit	Credit
  Advance payment (asset)	12,000
  Cash		12,000

IAS 21 §22IAS 21 §8AIAS 21 §19A

• Average rate or rates at the transaction dates

  JudgmentRequired

  Average rate retained (no significant fluctuation) / Rates at the transaction dates retained

  Professional judgement: an average rate is appropriate only if rates do not fluctuate significantly; no numerical threshold is imposed.

• Rationale for the rates chosen

  Text

• Exchangeability at the measurement date

  JudgmentRequired

  Currency not exchangeable: spot rate estimated

  Currency exchangeable / Currency not exchangeable: spot rate estimated

  Professional judgement: exchangeability is assessed at the measurement date and for a specific purpose; the technique for estimating a rate is not imposed.

• Rationale for the exchangeability assessment

  Text

  AUCUN_ECHANGE_POSSIBLE_A_LA_DATE_COURS_ESTIME

• Effect derived from the entries

  Table

IAS 21 §52IAS 21 §28

• Points to complete

  ChecklistRequired

  • Amount of exchange differences recognised in profit or loss
  • Net exchange differences in other comprehensive income, in a separate component of equity
  • Reconciliation of the opening and closing balances of that component

• Paragraphs cited in this workpaper and their verification status

  References

• Judgement on rates documentedNot filled in this instance
• Purchase entry balancedPass
• Settlement entry balancedNot evaluated

Assets

12,000

Liabilities

12,000

Profit or loss

0

OCI

0

Equity

0