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CA Final · Financial Reporting · Ind AS 21 The Effects of Changes in Foreign Exchange Rates

Rohan Pharma Ltd's CFO asks where guidance on foreign-currency-related matters covered in other Indian Accounting Standards can be located from within Ind AS 21. What does the standard provide for this?

Appendix C of Ind AS 21, titled references to matters contained in other Indian Accounting Standards, draws attention to guidance already available in other Ind AS that is relevant to the topic. Appendix 1 is only a comparison with IAS 21 and not part of the Standard.

  1. AAppendix C, which refers to matters contained in other Indian Accounting Standards and draws attention to existing guidanceCorrect
  2. BAppendix 1, which replaces the guidance in the other standards
  3. CParagraph 7AA, which reproduces the guidance in the other standards
  4. DInd AS 101 Appendix D, which is part of Ind AS 21

Explanation

Appendix C, 'References to matters contained in other Indian Accounting Standards', was included to draw attention to guidance already available in other Ind AS that is relevant to Ind AS 21. Appendix 1 is a comparison with IAS 21 and is not part of the Standard. Paragraph 7AA is a scope exclusion.

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