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An entity sometimes displays its financial statements or other financial information in a currency that is different from either its functional currency or its presentation currency simply by translating all amounts at end-of-period exchange rates. This is sometimes called a convenience translation. A result of making a convenience translation is that the resulting financial information does not comply with all IFRS, particularly IAS 21: The Effects of Changes in Foreign Exchange Rates.
Required:
Explain the disclosure requirements when convenience translation is used to display financial information.
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
An entity sometimes displays its financial statements or other financial information in a currency that is different from either its functional currency or its presentation currency simply by translating all amounts at end-of-period exchange rates. This is sometimes called a convenience translation. A result of making a convenience translation is that the resulting financial information does not comply with all IFRS, particularly IAS 21: The Effects of Changes in Foreign Exchange Rates.
Required:
Explain the disclosure requirements when convenience translation is used to display financial information.
Find Related Questions by Tags, levels, etc.
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