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CMA Final · Corporate Financial Reporting · The Effects of Changes in Foreign Exchange Rates (Ind AS 21)

Appendix C has been included in Ind AS 21. What is its stated purpose?

Appendix C, References to matters contained in other Indian Accounting Standards, is included to draw attention to guidance already available in other Ind AS that is also relevant to the topic covered by Ind AS 21. It adds no new accounting requirements.

  1. ATo draw attention to guidance already available in other Ind AS that is relevant to the topic in Ind AS 21Correct
  2. BTo provide illustrative journal entries for translation of foreign operations
  3. CTo list the exchange rates notified by the Reserve Bank of India
  4. DTo replace paragraphs of IAS 21 that were deleted

Explanation

Appendix C, titled references to matters contained in other Indian Accounting Standards, draws attention to guidance material already available in other Ind AS which is also relevant to the topic in Ind AS 21. It does not introduce new rules, rates or illustrations.

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