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Accounting Standards Board
The Institute of Chartered Accountants of India
21st February, 2023


Release of Educational Material on Ind AS 21, The Effects of Changes in Foreign Exchange Rates

Ind AS 21 prescribes how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate the financial statements into presentation currency. It also provides guidance on which exchange rates(s) to use and how to report the effects of changes in Exchange rates in the financial statements.

This Educational material on Ind AS 21 addresses all relevant aspects envisaged in the Standard by way of brief summary of the Standard and frequently asked questions (FAQs) on practical issues that the preparers of the financial statements may face while applying this Ind AS.

Relevant link to download the Educational Material:

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