https://www.taxtmi.com/acts?id=40998 The Standard requires initial recognition of foreign currency transactions at the transaction-date rate (or practicable approximation); at each balance sheet date monetary items are reported at the closing rate while non-monetary items are reported at transaction-date or valuation-date rates. Exchange differences on monetary items are recognised in profit or loss as they arise, except where they relate to net investments in non-integral foreign operations and are accumulated in a foreign currency translation reserve until disposal. en-us Sat, 05 Nov 2022 11:57:00 +0530 Tue, 06 Jan 2026 15:09:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40998 The Standard requires initial recognition of foreign currency transactions at the transaction-date rate (or practicable approximation); at each balance sheet date monetary items are reported at the closing rate while non-monetary items are reported at transaction-date or valuation-date rates. Exchange differences on monetary items are recognised in profit or loss as they arise, except where they relate to net investments in non-integral foreign operations and are accumulated in a foreign currency translation reserve until disposal. Act-Rules Companies Law Sat, 05 Nov 2022 11:57:00 +0530 https://www.taxtmi.com/acts?id=40998