Search Definitions

Foreign currency is a currency other than the functional currency of the entity. …

Foreign operation is an entity that is a subsidiary, associate, joint arrangement or branch of a reporting entity, the activities of which are based or conducted in a country or currency other than those of the reporting …

Functional currency is the currency of the primary economic environment in which the entity operates. …

A group is a parent and all its subsidiaries …

Monetary items are units of currency held and assets and liabilities to be received or paid in a fixed or determinable number of units of …

Net investment in a foreign operation is the amount of the reporting entity’s interest in the net assets of that operation. …

Presentation currency is the currency in which the financial statements are presented. …

Spot exchange rate is the exchange rate for immediate delivery. …

The following terms are used in this Standard with the meanings specified: …

Inventories are assets: (a) held for sale in the ordinary course of business; (b) in the process of production for such sale; or (c) in the form of materials or supplies to be consumed in the production process or in the rendering of …