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

What is the purpose of Appendix C, 'References to matters contained in other Indian Accounting Standards', included in Ind AS 21?

Appendix C is included to draw attention to guidance in other Indian Accounting Standards that is already available and also relevant to the topic of Ind AS 21. It works as a cross-reference and does not override or replace requirements.

  1. ATo draw attention to guidance already available in other Ind ASs that is also relevant to the topic in Ind AS 21Correct
  2. BTo override the recognition rules of other Ind ASs for foreign currency items
  3. CTo list exchange rates notified by the RBI for each year
  4. DTo replace the disclosure requirements of Ind AS 21

Explanation

Appendix 1 says Appendix C was included to draw attention to guidance material already available in other Ind ASs which is also relevant to Ind AS 21's topic. It does not override or replace any requirement. It is a cross-reference aid.

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