Question: Answer it as per Ind AS FR FR S-3: Functional currency of parent P is EURO while the functional currency of its subsidiary S is

Answer it as per Ind AS FR

Answer it as per Ind AS FR FR S-3: Functional currency of

S-3: Functional currency of parent P is EURO while the functional currency of its subsidiary S is USD. P sells inventory to S for EURO 300. At the reporting date, though the amount is yet to be received from S, the payment is expected to be made in the foreseeable future. In addition to the trading balances between P and S, P has lent an amount of EURO 500 to S that is not expected to be repaid in the foreseeable future. Should the exchange difference be recognised in the profit and loss account

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