Written by: Barbora Choi on Thu Mar 26
Classification of foreign exchange differences from an intragroup monetary liability (or asset)
I am sharing an example of foreign exchange differences on a monetary item within a group and an illustration of View 1 and View 2 concerning the treatment of FX differences as proposed by the IFRIC.
"Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime."
Classification of foreign exchange differences from an intragroup monetary liability (or asset) (IFRS 18) was met with a high interest in the international accounting community.
The topic was on IFRIC Agenda this March again:
https://lnkd.in/e6zHPTRN
⏩ An easy example + summary of the updated wording in the attached carousel.
headline quote by Hermann Hesse, Demian: Die Geschichte von Emil Sinclairs Jugend
