There is little conceptual clarification of the translation requirements in IAS 21. The requirements of IAS 21 can be divided into two main areas: the reporting of foreign currency transactions in the functional currency; and the translation to the prese...
The non-monetary assets and liabilities of an entity are measured in its functional currency (see IAS 21 The Effects of Changes in Foreign Exchange Rates). If the entity’s taxable profit or tax loss (and, hence, the tax base of its non-monetary assets and liabilities) is determined in ...
Furthermore, there are some temporary differences which are not timing differences, for example those temporary differences that arise when: (a) the non-monetary assets and liabilities of an entity are measured in its functional currency but the taxable profit or tax loss (and, hence, the tax ...
I'm still new to cloud development with SAP and got confused the other day about the different roles that exist in the BTP, IAS and Launchpad service. I want to write this blog to help people who are also just new in this environment. Simply put: BTP = Roles / Role Collections IAS ...
functional currency but the taxable profit or tax loss (and, hence, the tax base of its non-monetary assets and liabilities) is determined in a different currency; (b) non-monetary assets and liabilities are restated under IAS 29 Financial Reporting in Hyperinf lationary Economies; or (c) ...
The translation of financial statements of the foreign subsidiaries to the functional currency of the company is performed for assets and liabilities using the exchange rate in effect at the balance sheet date and for revenue, expense and cash-flow items using the average exchange rate fo...
(22) 21 1 (1) (1) (2) 2009 mln USD* - - - - - (1) - (4) (5) (3) -- (9) (8) 20 - 83 (5) - 23 3 24 2 16 16 40 16 5 mln RUR Balance as at 1 January 2010 Profit (loss) for the year Foreign currency translation difference Total recognized income and expenses...
52, "Foreign Currency Translation". Management has determined that the Group's functional currency is the Russian ruble. The Group selected the U.S. dollar ("USD") as its reporting currency and translates functional currency financial statements of its entities into USD. Assets and liabilities ...
Gazprom including identification of basic risks and determination of risk management strategy; • detailed development of the corporate risk management system including preparation of the organizational and functional scheme of risk management; • implementation of the operating corporate risk management ...
(Note 3) Income tax effect of changes in the functional currency (Note 3) Balances at December 31, 2003 - - - - - 15,965,850 $ 12,346 - - - 12,346 10,192 - - - - 22,538 - - - - - 22,538 Common stock Additional Retained Other paid-in earnings compre- Shares Amount ...