Transcription of Accounting Standard (AS) 11
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Accounting Standard (AS) 11
108 Accounting Standard (AS) 11 The Effects ofChanges inForeign exchange Rates Contents OBJECTIVE SCOPE Paragraphs 1-6 DEFINITIONS 7 FOREIGN CURRENCY TRANSACTIONS8-16 Initial Recognition 8-10 Reporting at Subsequent Balance Sheet Dates11-12 Recognition of ExchangeDifferences13-16 Net Investment in a Non-integral ForeignOperation 15-16 FINANCIAL STATEMENTS OF FOREIGNOPERATIONS 17-34 Classification of ForeignOperations17-20 Integral Foreign Operations21-23 Non-integral Foreign
14. An exchange difference results when there is a change in the exchange rate between the transaction date and the date of settlement of any monetar y items arising from a foreign currency transaction. When the transaction is settled within the same accounting period as that in which it occurred, all the exchange difference is recognised in ...
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