Transaction are covered by Ind AS 21
What type of transaction are covered by Ind AS 21?
- Accounting for transactions and balances in foreign currencies
- Translating the results and financial position of foreign operations, included in the financial statements of the entity by consolidation or the equity method
- Translating an entity’s results and financial position into a presentation currency
- Applies to the presentation of an entity’s financial statements in a foreign currency and sets out requirements for the resulting financial statements to be described as complying with Indian Accounting Standards (Ind ASs).
- For translations of financial information into a foreign currency that do not meet these requirements, this Standard specifies information to be disclosed.