Comparison of Foreign Exchange Rate Treatments under ICDS-IV, AS-11, and Ind AS-21 for Income Computation and Disclosure Standards.

The document compares the treatment of foreign exchange rates under ICDS-IV, AS-11, and Ind AS-21, focusing on income computation and disclosure standards. It details the scope, currency definitions, and conversion practices for monetary and non-monetary items. Exchange differences for monetary items are recognized in profit or loss, with exceptions for long-term items. The translation of foreign operations varies, with ICDS not distinguishing between integral and non-integral operations, unlike Indian GAAP and Ind AS. Ind AS allows exchange differences to be recognized in other comprehensive income and reclassified upon disposal, depending on control retention.