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

Rudra Pharma Ltd's CFO asks where Ind AS 21 points readers to guidance in other Ind ASs that is also relevant to foreign currency matters. Which feature of Ind AS 21 serves this purpose?

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 ASs that is relevant to the effects of changes in foreign exchange rates.

  1. AAppendix A, which sets out defined terms
  2. BAppendix C, References to matters contained in other Indian Accounting StandardsCorrect
  3. CAppendix B, which gives illustrative journal entries only
  4. DAppendix D of Ind AS 101 alone, with no appendix in Ind AS 21

Explanation

Appendix C, 'References to matters contained in other Indian Accounting Standards', was included in Ind AS 21 to draw attention to guidance already available in other Ind ASs that is also relevant to the topic. It is not a glossary or an illustrative-entries appendix.

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