Economics · Accounting Standards
An Indian bank owns a foreign subsidiary in the UAE that prepares its financial statements in Dirhams as per IFRS. During consolidation, the Indian parent converts these statements into INR using the RBI reference rate. Which Indian Accounting Standard (Ind AS) governs this process of foreign currency translation?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Ind AS 1
- 2Ind AS 110
- 3Ind AS 115
- 4Ind AS 21✓
Correct answer
Ind AS 21
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