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IAS 21 IFRS Effects of Changes in Foreign Exchange Rates

  • CPA (CA)
  • CPA (US)
  • CVA
  • CFE
IAS 21 IFRS Effects of Changes in Foreign Exchange Rates

2 Credits

$20

Subject Area

Accounting

Webinar Qualifies For

2 CPE credit of Accounting for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPD credit (Verifiable) for Canadian CPAs

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

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 some may present its financial statements in a foreign currency. 

This accounting CPE webinar for CPAs 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.

Key topics covered in this online Accounting webinar:

  • 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.

Recommended for: 

This IFRS webinar on Foreign Exchange Rates is for accounting professionals interested in learning about fundamentals of IFRS and Foreign Exchange Accounting.  


Learning Objectives

  • To explain how IFRS prescribes how to include foreign currency transactions and foreign operations in the financial statements.
  • To know how to translate financial statements into a presentation currency.
  • To discussBe aware of the principal issues surrounding choosing which exchange rate(s) to use.
  • Know how to report the effects of changes in exchange rates in the financial statements.

Who Should Attend?

  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA