An enterprise should disclose:

  • The amount of exchange differences included in the net profit or loss for the period.
  • Net exchange differences accumulated in foreign currency translation reserve as a separate component of shareholders’ funds, and a reconciliation of the amount of such exchange differences at the beginning and end of the period.
  • When the reporting currency is different from the currency of the country in which the enterprise is domiciled, the reason for using a different currency should be disclosed.
  • The reason for any change in the reporting currency should also be disclosed.

When there is a change in the classification of a significant foreign operation, an enterprise should disclose:

  • The nature of the change in classification;
  • The reason for the change;
  • The impact of the change in classification on shareholders’ funds; and
  • The impact on net profit or loss for each prior period presented had the change in classification occurred at the beginning of the earliest period presented.
Change in the Classification of a Foreign Operation
Accounting for Government Grants Under the Indian GAAP (AS-12)

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