IAS 21 The Effects of Changes in Foreign Exchange Rates

slide: Welcome to IAS 21 The Effects of Changes in Foreign Exchange Rates

Welcome to IAS 21 The Effects of Changes in Foreign Exchange Rates visited
- Menu locked
Overview locked
- How to navigate this e-learning? locked
- Introduction locked
- The significance of foreign activities locked
- Benefits of using IAS 21 locked
- The scope of IAS 21 locked
- Meet your colleagues locked
- Company profiles locked
Session 1: Functional and presentation currencies locked
- Learning objectives locked
- Good morning! locked
- Ready to help Diane? locked
- Review the learning session locked
  - Determining the functional currency locked
    - Functional currency locked
    - Weighting of the factors locked
    - Primary evidence locked
    - Secondary evidence locked
    - Importance of a correct determination locked
  - Additional factors for foreign operations locked
    - Functional currency of a foreign operation locked
    - Additional factors locked
    - Example: Functional currency—Same as reporting entity locked
    - Example: Functional currency—Different from reporting entity locked
  - Presentation currency versus functional currency locked
    - Presentation currency locked
    - Comparison to the functional currency locked
    - Choice of presentation currency locked
- Review the scenario locked
  - Not a moment's rest locked
  - Scenario question: Primary factors locked
  - Secondary factors locked
  - Scenario question: Strict application versus free choice locked
  - A visit from Diane locked
  - Additional factors to consider for foreign operations locked
  - One down, one to go locked
  - Scenario question: Reviewing Nanavati locked
  - Scenario question: What about the presentation currency? locked
  - You had better run … locked
Session 2: Introducing foreign currency transactions and translations locked
- Learning objectives locked
- Travelling to work ... locked
- Are you prepared for the meeting with Claude? locked
- Review the learning session locked
  - Foreign currency transactions and translations locked
    - Overview locked
    - Transaction and translation locked
    - Example: Transactions and translations―Distinctions locked
  - Monetary items locked
    - What is a monetary item? locked
- Review the scenario locked
  - A wise use of your time locked
  - Transactions versus translations locked
  - IFRS summaries locked
  - Scenario question: Monetary versus non-monetary locked
  - Welcome to Puteaux locked
Session 3: Foreign currency transactions locked
- Learning objectives locked
- Meeting Claude locked
- Introduction locked
- Review the learning session locked
  - Initial recognition locked
    - Initial recognition of foreign currency transactions locked
    - Use of average rates locked
    - Scope of IFRIC 22 locked
    - Date of the transaction locked
  - Reporting at the end of subsequent reporting periods locked
    - Keeping books and records in another currency locked
    - Reporting at the end of subsequent reporting periods locked
    - Carrying amount determined by comparing two or more amounts locked
    - What if there are several exchange rates? locked
    - Assessing whether a currency is exchangeable locked
  - Recognition of exchange differences locked
    - Exchange differences on monetary items locked
    - Exchange differences on monetary items (cont.) locked
    - Exchange differences on non-monetary items locked
    - Example: Initial and subsequent recognition locked
    - Example: Initial and subsequent recognition (cont.) locked
- Review the scenario locked
  - An exceptional exchange gain? locked
  - Investigating the gain locked
  - Scenario question: Initial recognition locked
  - Investigating further locked
  - Scenario question: Subsequent recognition locked
  - Caroline’s entries locked
  - Scenario question: Which exchange rate should be used? locked
  - A break for lunch locked
Session 4: Foreign operations locked
- Learning objectives locked
- What is in store for the afternoon? locked
- Ready to help Peter? locked
- Review the learning session locked
  - Translation to the presentation currency locked
    - Introduction locked
    - Translation to the presentation currency locked
    - Exchange differences locked
    - How do the exchange differences arise? locked
    - Example: Translation of a foreign operation locked
  - Further issues for translation of a foreign operation locked
    - Introduction locked
    - Intragroup transactions locked
    - Different end of the reporting periods locked
    - Goodwill and fair value transactions locked
  - Disposal of a foreign operation locked
    - Exchange differences recognized on disposal locked
    - Partial disposals and write-downs locked
- Review the scenario locked
  - Scenario question: Back to work locked
  - Harrisons of Hatton Garden locked
  - Scenario question: The exchange difference in equity locked
  - Five minutes later … locked
  - Scenario question: Different end of the reporting period locked
  - In comes Claude … locked
  - Scenario question: How should Claude deal with the exchange differences? locked
  - If only she knew! locked
Final assessment locked
- Final assessment instructions locked
- Disclaimer locked