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MCA's new accounting standard for foreign currency transactions
Financial Express Bengaluru
|May 10, 2025
THE MINISTRY OF corporate affairs (MCA) has notified the Companies (Indian Accounting Standards) Amendment Rules, 2025, introducing key changes to Ind AS 21 — a standard that mandates companies to estimate the spot exchange rate when "exchangeability" between two currencies is absent.
The move will help companies more accurately capture the impact of transactions conducted by firms in foreign currency on their financial statements.
This story is from the May 10, 2025 edition of Financial Express Bengaluru.
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