IAS 21: foreign currency
Plain-English guides to IAS 21 foreign exchange accounting, each with a worked example.
2 guides
- IAS 21 foreign currency: transactions and translation4 minute readIAS 21 foreign currency explained: functional currency, recording transactions, year-end retranslation, translating foreign operations and the reserve.
- Lack of exchangeability: the 2023 IAS 21 amendments3 minute readLack of exchangeability under IAS 21 explained: when a currency is not exchangeable, how to estimate the spot rate, disclosures, transition and an example.
About these guides
The guides explain the standard in our own words, with our own examples, and point to the paragraphs they rely on. They are general information, not advice for your situation. Read them alongside the standard itself, and check when your regulator adopts it.