Draft IFRIC Interpretation DI/2015/2 Foreign Currency Transactions and Advance Consideration

IAS 21 sets out requirements about which exchange rate to use when recording a foreign currency transaction on initial recognition in an entity’s functional currency. However, the Interpretations Committee observed some diversity in practice in circumstances in which consideration was received or paid in advance of the recognition of the related asset, expense or income. Consequently, the Interpretations Committee developed this draft Interpretation.

Taggar: FAR tycker, Redovisning