About this Seminar

This course is relevant to any entities that are involved in transactions or have balances denominated in one or more foreign currencies. It will provide you with an introduction to the requirements of IAS 21 The Effects of Changes in Foreign Exchange Rates, including:

  • Determining the functional currency of an entity

  • Reporting foreign currency transactions in the entity’s functional currency

  • Translating the results of a foreign operation

  • Using a presentation currency other than the entity's functional currency

  • Preparing the disclosures required in respect to foreign currency transactions and translations.

How this seminar can help your business

Many entities enter into transactions in foreign currencies, hold investments in overseas subsidiaries, and/or extinguish balances held in a currency that is not the currency of the jurisdiction that the entity is located in. This course will explain which currency an entity should use to present its financial statements and how to translate different types of transactions and balances in foreign currencies for presentation financial statements prepared under International Financial Reporting Standards or Australian Accounting Standards.

Meet your course instructor

IFRS Instructor

Aletta Boshoff

Aletta is an Advisory Partner and National Leader of IFRS & Corporate Reporting at BDO in Australia. Aletta has over 25 years’ experience in financial reporting and accounting, including IFRS. Aletta has lectured on financial accounting and reporting, auditing and assurance and taxation at various Australian and South African universities. As an Associate Professor, she authored various financial reporting and accounting textbooks. Aletta also spent several years as a Project Manager at the Australian Accounting Standards Board (AASB).

IFRS Instructor

Dean Ardern

Dean has been advising on IFRS and other financial reporting matters for over 15 years. Having worked with a range of clients in both the for-profit and not-for-profit sectors, Dean understands the challenges preparers face. Dean has presented academic and professional training seminars and published papers on various topics in financial accounting and reporting in Australia and internationally. Dean has also participated in various professional liaison and working groups, including the AASB’s Disclosure Initiative Project Advisory Panel and the Institute of Actuaries of Australia’s Insurance Accounting Standards Committee.