AASB 121/IAS 21 Requires That the Financial Report Disclose Which

question 14

Multiple Choice

AASB 121/IAS 21 requires that the financial report disclose which of the following?

• A) The net exchange differences recognised in OCI and accumulated in a separate component of equity.
• B) The amount of exchange differences recognised in the profit or loss for the period other than those that relate to financial instruments measured at fair value through profit or loss.
• C) Any change in functional currency and reason for change.
• D) All of the above.

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Definitions:

Organizational Performance

The analysis of a company's performance against its goals and objectives, often measured through financial, social, and environmental metrics.

Limitation

A restriction or boundary that defines the scope of something, potentially constraining actions, abilities, or developments.

Reward System

A set of mechanisms or programs designed to motivate and recognize employees' efforts, achievements, and performance.

Profit-Sharing Programs

Programs in which employees receive a share of the company's profits, typically as a part of their compensation package.