AASB 121 - The Effects of Changes in Foreign Exchange Rates - July 2004
Comparison with IAS 21Comparison with IAS 21
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Comparison with IAS 21
AASB 121 and IAS 21
AASB 121 The Effects of Changes in Foreign Exchange Rates as amended incorporates IAS 21 The Effects of Changes in Foreign Exchange Rates as issued and amended by the International Accounting Standards Board (IASB). Paragraphs that have been added to this Standard (and do not appear in the text of IAS 21) are identified with the prefix “Aus”, followed by the number of the preceding IASB paragraph and decimal numbering.
Compliance with IAS 21
Entities that comply with AASB 121 as amended will simultaneously be in compliance with IAS 21 as amended, with the exception of entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.