IFRS Effects of Changes in Foreign Exchange Rates (IAS 21)
  • CODE : MIKE-0033
  • Duration : 60 Minutes
  • Level : Intermediate
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Mike Morley is a Certified Public Accountant who holds the top credit designations in the U.S., Canada, and the U.K. An entertaining and informative speaker, Mike is a recognized authority in the field of finance.

A consultant on SOX and IFRS projects, Mike is the author of “Sarbanes-Oxley Simplified,” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
Mike is the author of several books, including:

  • “IFRS Simplified” which provides a jump starts for accountants and finance executives who want to quickly and easily get up to date on IFRS.
  • “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
  • “Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

An entity with foreign activities may have transactions in foreign currencies or it may have foreign operations. IN either case, IFRS permits some reporting choices. The company may present its financial statements in a foreign currency. This session will outline how to include foreign currency transactions and foreign operations in the financial statements and how to translate financial statements into a presentation currency with an emphasis on which exchange rate(s) to use and how to report the effects of changes in exchange rates in the financial statements and accounting for the use of currency hedging.

The objective of this session is to help you understand how the Standard prescribes how to include foreign currency transactions and foreign operations in the financial statements of an entity and how to translate financial statements into a presentation currency. The principal issues are which exchange rate(s) to use and how to report the effects of changes in exchange rates in the financial statements.

Learning Objectives

  • The purpose of hedge accounting and what constitutes a hedging relationship
  • The conditions under which you can use hedge accounting
  • Anticipated purchase or sale of a commodity hedged with a forward contract
  • Anticipated transaction denominated in a foreign currency hedged with a forward contract
  • An interest-bearing asset or liability hedged with an interest rate swap
  • A foreign currency-denominated interest-bearing asset or liability hedged with a cross-currency interest rate swap
  • Financial statement presentation and disclosure requirements

Who Should Attend

  • CEO/CFO
  • Board members
  • External auditors
  • Compliance professionals
  • Operational professionals
  • Finance professionals
  • Internal auditors
  • Anyone involved in the IFRS compliance process
  • $149.00



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