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IFRIC 22 Foreign Currency Transactions and Advance Consideration
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Standard 2024 Issued
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About
IFRIC 22 is effective 1 January 2018.
IFRIC 22 clarifies which exchange rate to use in transactions that involve advance consideration paid or received in a foreign currency.
Standard history
In December 2016 the International Accounting Standards Board issued IFRIC 22 Foreign Currency Transactions and Advance Consideration. It was developed by the Interpretations Committee.
Other Standards have made minor consequential amendments to IFRIC 22, including IFRS 17 Insurance Contracts (issued May 2017) and Amendments to References to the Conceptual Framework in IFRS Standards (issued March 2018).
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Foreign Currency Transactions and Advance Consideration (Amendments to IAS 21)
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