The new global accounting standards, termed the International Financial Reporting Standards (IFRS) does not consider gains and losses related to exchange rate changes as unrealized till the company is sold, similar U.S. GAAP accounting standards.

Question

Quizplus · Accepted Answer

IFRS considers gains and losses from exchange rate changes as realized or unrealized depending on the nature of the transaction, similar to U.S. GAAP, but the specific rules and applications can differ between the two standards.

The New Global Accounting Standards, Termed the International Financial Reporting