About this Course

This workshop exhaustively deals with the complex issues of accounting for effects of changes in foreign exchange rates. The workshop covers the individual financial statements of an entity and consolidated financial statements of a group. The workshop explains and analyses the complex technical requirements of FRS 21. It also covers the preparation of cash flows statements involving foreign exchange transactions and foreign operations cash flows (FRS 7), foreign currency hedge accounting (FRS 39), disclosure of foreign currency risk (FRS 32), presenting and reclassifying foreign exchange gain or loss in other comprehensive income and profit and loss (FRS 1), deferred tax on foreign exchange differences (FRS 12) and the effect of hyperinflation on translation of foreign operations (FRS 29).

Programme Outline 

• Introduction and Overview for effects of foreign exchange differences
• Accounting for effect of foreign exchange differences in an individual company’s financial statements
• Effect of foreign exchanges differences on business combinations:
• Foreign subsidiary’s functional currency is different from Parent’s presentation currency
• Accounting for foreign exchange difference arising from net investment in foreign subsidiaries and associates
• Foreign currency and statement of cash flows
• Accounting for foreign currency forward/future contracts
• Disclosure Requirements for foreign currency 

Intended For

This Intermediate to Advanced Level programme is suitable for Practising Accountants, Non-Practising Accountants and Audit Professionals.

Those who are keen to seek clarity and achieve a deeper understanding of the complex issues of accounting for effects of changes in foreign exchange rates are welcome to attend.

Training Methodology

Interactive discussions, case studies and practical exercises

*Participants are required to bring along a calculator 

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