Accounting Standards Board FRS 23 (IAS 21) The Effects Of Changes In Foreign Exchange Rates December 2004

摘要

(a) This Financial Reporting Standard (FRS) has the effect, for those entities that are applying it, of: 1. implementing in the UK and the Republic of Ireland the International Accounting Standards Board's (IASB's) International Accounting Standard (IAS) 21 The Effects of Changes in Foreign Exchange Rates; 2. withdrawing an existing UK standard, SSAP 20 Foreign currency translation', and 3. making consequential amendments to certain other UK standards and UITF Abstracts. SSAP 20 remains in place unamended - and the various other UK standards and UITF Abstracts amended by this FRS remain in place unamended - for entities not applying this FRS. (b) This FRS is, in effect, part of a package of UK standards comprising: 4. this FRS, 5. FRS 24 (IAS 29) Financial Reporting in Hyperinflationary Economies, 6. the disclosure requirements of FRS 25 (IAS 32) Financial Instruments: Disclosure and Presentation,; and 7. FRS 26 (IAS 39) Financial Instruments: Measurement. (c) The application of the package of standards is determined by reference to FRS 26's application. 8. For accounting periods beginning on or after 1 January 2005, FRS 26 - and therefore the entire package of standards listed above, including this FRS - applies to all listed entities preparing their financial statements in accordance with UK requirements - including listed parent undertakings preparing individual financial statements in accordance with those requirements. Other entities are permitted to apply the entire package of standards from that date, although entities are not permitted to apply some of the standards in the package but not others -except that FRS 25 exempts certain entities from applying the disclosure requirements and also permits entities to apply those disclosure requirements in advance of the other standards in the package if they wish.