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Changes in Foreign Exchange Rates

ninty9er · 2009-01-07 23:32:15

Currently doing a bit on IAS 21 for my Final Year Project. Would it be fair to argue that the currency conversion isn't 100% necessary as the gain/loss on movement in foreign currency is a theoretical rather than realised one? I'm angling towards IAS 21 being pointless unless a company is discontinuing operations in a…

07-01-2009 11:32pm

#1

ninty9er

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Currently doing a bit on IAS 21 for my Final Year Project.

Would it be fair to argue that the currency conversion isn't 100% necessary as the gain/loss on movement in foreign currency is a theoretical rather than realised one?

I'm angling towards IAS 21 being pointless unless a company is discontinuing operations in a particular currency, in which case IFRS 5 could be amended to reflect this.

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