https://www.taxtmi.com/acts?id=19812 Ind AS 21 requires determination of an entity's functional currency and prescribes translation of foreign currency transactions and financial statements: initial recognition at the spot rate on transaction date; closing rate for monetary items at reporting date; transaction-date or fair-value measurement rates for non-monetary items; recognition of exchange differences in profit or loss except where other Ind ASs apply; special treatment for net investments in foreign operations and for presentation currencies differing from functional currencies; guidance on lack of exchangeability and estimating spot rates; and disclosure requirements. en-us Thu, 04 Jun 2015 15:09:08 +0530 Thu, 08 May 2025 16:14:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=19812 Ind AS 21 requires determination of an entity's functional currency and prescribes translation of foreign currency transactions and financial statements: initial recognition at the spot rate on transaction date; closing rate for monetary items at reporting date; transaction-date or fair-value measurement rates for non-monetary items; recognition of exchange differences in profit or loss except where other Ind ASs apply; special treatment for net investments in foreign operations and for presentation currencies differing from functional currencies; guidance on lack of exchangeability and estimating spot rates; and disclosure requirements. Act-Rules Companies Law Thu, 04 Jun 2015 15:09:08 +0530 https://www.taxtmi.com/acts?id=19812