32 paragraphs found in INT 107
• AASB 101 Presentation of Financial Statements • AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors • AASB 110 Events after the Reporting Period • AASB 121 The Effects of Changes in Foreign Exchange …
From 1 January 1999, the effective start of Economic and Monetary Union (EMU), the euro will become a currency in its own right and the conversion rates between the euro and the participating national currencies will be irrevocably fixed, ie the risk of …
The issue is the application of AASB 121 to the changeover from the national currencies of participating Member States of the European Union to the euro (‘the …
The requirements of AASB 121 regarding the translation of foreign currency transactions and financial statements of foreign operations shall be strictly applied to the changeover. The same rationale applies to the fixing of exchange rates when countries …
This means that, in particular: (a) foreign currency monetary assets and liabilities resulting from transactions shall continue to be translated into the functional currency at the closing rate. Any resultant exchange differences shall be recognised as …
This Interpretation applies to annual periods beginning on or after 1 January 2018. Earlier application is permitted for periods beginning on or after 1 January 2014 but before 1 January …
When applied or operative, this Interpretation supersedes Interpretation 107 Introduction of the Euro issued in July 2004. …
IAS 21.2311(a) requires that foreign currency monetary items (as defined by IAS 21.807) be reported using the closing rate at each balance sheet date the end of each reporting period. According to IAS 21.2815, exchange differences arising from the …